Many organisations are starting to use blockchain for their business and also capital raising, which involves an offering of digital tokens to investors worldwide to raise funds used to expand, support and grow their businesses, which can in turn provide goods or services to investors or other users. These are termed “Initial Coin Offerings”, or ICOs for short.
Cryptocurrency, blockchain and token offerings involve highly complex IP and legal matters, such as its ownership and legal protection, by virtue of the intricate technology underlying it. The blockchain technology, the source code used to create the digital token, and the source code behind smart contracts are all patentable subject matter. Registering these patents will protect the technology and source code from being copied or stolen by other parties.
Aside from IP related matters, businesses looking at ICOs should also consider other matters such as regulatory issues, data security issues, privacy concerns, anti-money laundering issues and terrorist-financing issues that come with ICOs.
There is limited information available to businesses who wish to prepare for an ICO due to it being a nascent mode of fund raising. Our team of IP and corporate lawyers have vast experience and up-to-date knowledge on IP and other legal matters in relation to cryptocurrencies, blockchain and ICOs to assist our clients with their ICO at every juncture – from the planning stage to the eventual digital token offering.
We structure our advice to our clients in a comprehensive and detailed manner on the structuring of the ICO, regulatory issues, data security issues, privacy concerns, anti-money laundering issues and terrorist-financing issues that come with ICOs.
We have also assisted clients with filing of patents and registration of their blockchain technology, providing them with protection against competitors in the same business.
The collaboration between our IP lawyers and corporate lawyers ensures that our clients’ ICOs run smoothly and not in contravention of any regulations or laws.
Speak to us for advice on IP and other matters regarding your ICO.