Proceedings of the International Scientific and Practical Conference on Digital Economy (ISCDE 2019)

Smart contracts in international trade in services in the field of intellectual property

Authors
A.R. Mukhtarova, N.I. Lesnova
Corresponding Author
A.R. Mukhtarova
Available Online December 2019.
DOI
https://doi.org/10.2991/iscde-19.2019.100How to use a DOI?
Keywords
smart contract, blockchain, international trade in services, intellectual property, license agreement, patent, trademark
Abstract
The paper studies how to use a smart contract, including for the coordination and fulfillment of international contractual obligations for trade in services in the field of intellectual property. Attention is drawn to the special nature of smart contracts as self-enforceability and self-sustainability. As a result, their use for commercial purposes provides the contract parties with significant advantages, such as: reduction of costs for maintenance and enforcement, reduces the number of persons involved in the implementation of the obligation, diminishes the volume of documents under the contract, and eliminates bureaucracy. When developing smart contracts, a number of conditions should be taken into account: the actual semantics of the platform on which the contract will be placed; writing a secure smart contract code before placing a contract on the network, since it is the smart contract code that identifies its vulnerabilities. It is noted that the problem of interaction between lawyers and developers of the contract program code can be solved by using the code to formulate, verify, and enforce the agreement between the parties. In cross-border trade in services in the field of intellectual property, a smart contract can solve a number of important tasks: reduce the time for execution of the contract by the parties, ensure the protection of intellectual property, and reduce the costs of enforcement.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - A.R. Mukhtarova
AU  - N.I. Lesnova
PY  - 2019/12
DA  - 2019/12
TI  - Smart contracts in international trade in services in the field of intellectual property
BT  - Proceedings of the International Scientific and Practical Conference on Digital Economy (ISCDE 2019)
PB  - Atlantis Press
SP  - 240
EP  - 243
SN  - 2352-5428
UR  - https://doi.org/10.2991/iscde-19.2019.100
DO  - https://doi.org/10.2991/iscde-19.2019.100
ID  - Mukhtarova2019/12
ER  -