This chapter examines distributive justice (DJ) within the realm of international intellectual property (IP) laws, focusing on the digital era. It highlights DJ as a critical lens for understanding global IP laws, particularly where technology significantly influences the processes of creation. It also emphasizes the importance of global equity in achieving access to IP rights, within a comprehensive understanding of their scope. The United Nations Sustainable Development Goals focus on the context of peace, prosperity, and equality, though not explicitly centered on IP rights. Consequently, there is a need to redefine IP rights not only to address legal uncertainties but also to foster global equality. Moreover, the chapter delves into the roles of international entities like the World Intellectual Property Organization (WIPO) in managing challenges where global DJ and IP intersect. It highlights the importance of digital tools (e.g., blockchain) for authenticating original authors. The chapter asserts that proficient and reliable international organizations like WIPO are best suited to address these challenges. Furthermore, the chapter underscores the significance of an unbiased global investment system for promoting universal progress and equity. Ultimately, it explores how WIPO’s tools, such as WIPO Re:Search and WIPO Proof, exemplify DJ in the international IP framework.

Theoretically, all inventions are equal under the law: they receive the same scope of protection for the same period, backed by the same remedies. In reality, such equality has been strongly compromised. Patents are concentrated in the hands of big companies and privileged individuals. Women and minorities – as well as firms they own – are less likely to file for patents and have their patents granted. Small companies are also less likely to file and receive patents than strong incumbents. This chapter argues that some changes in the patent system can trigger better accessibility, affordability, and equality. It builds on the author’s earlier proposal to replace the patent record with a decentralized database that would include more information about inventions from more sources and additional functions. Under the proposal, inventors would submit patent applications to a shared patent record instead of a central patent office. During the examination process and throughout the duration of the patent, industry and state actors would be able to update the record. For example, third parties could submit prior art, scientists could weigh in on obviousness, patentees could offer licenses, and courts could list outstanding cases that pertain to the patent.

In Chapter 7, we conclude our reconceptualization of organizational control by discussing new forms of control, novel combinations of existing controls, new challenges to fundamental assumptions, and new forms of organizing – all of which represent promising directions for future organizational control research and practice.

Blockchain and distributed ledger technologies are considered as transformative for corporate governance and enabling decentralized autonomous organizations (DAOs) that challenge hierarchical structures. However, legal, governance, and liability issues surround DAOs. Despite the aim for decentralization, practical implementation often reveals centralized elements. The chapter also explores blockchain’s impact on traditional corporations, emphasizing improvements in share issuance, trading, and decision-making. Blockchain can also address custody chain problems, enhancing transparency in securities and stock ownership. Yet, transitioning to blockchain, exemplified by ASX CHESS Replacement, is complex. While blockchain holds promise in fostering shareholder and stakeholder rights, a nuanced assessment of limitations and practicalities is crucial. More classical alternatives like secure and transparent centralized systems should also be considered in corporate governance.

Cybersecurity has emerged as a paramount concern in today’s digital age, especially when considering the vast range of digital assets now in circulation, among which non-fungible tokens (NFTs) hold significant prominence. This chapter delves deeply into the intricate landscape of cybersecurity as it pertains to NFTs. By meticulously analyzing the multifaceted technical challenges and potential vulnerabilities inherent to NFTs from a cybersecurity perspective, this chapter seeks to provide an overview of the landscape as of this writing. Furthermore, this chapter explores how existing laws, policies, and societal norms have addressed these issues thus far, and speculates on how they might evolve in the future to more effectively bridge the governance gaps and safeguard these unique digital assets.

In the evolving landscape of technological discourse, non-fungible tokens (NFTs) have risen as pivotal instruments, notably within gaming and digital art. However, their implications are broader, touching upon real-world applications such as land titles and supply chain management. As the Web 3.0 architecture evolves, the role of NFTs in domain nomenclature and email addresses is increasingly significant. Yet, with the existence of alternate methods for these operations, a pertinent question emerges: Why opt for NFTs or blockchain-based solutions? Despite uncertainties surrounding adoption, many early adopters are zealously securing addresses on these avant-garde networks. This chapter delves into the conditions and reasons for considering this nascent technology.

This chapter highlights the dangers of linguistic inaccuracies and misunderstandings that permeate discussions on blockchain technology and non-fungible tokens (NFTs), impacting policy and legal outcomes. It identifies two critical issues hindering effective legislation: a lack of comprehension of blockchain technology’s technical nuances and a failure to appreciate the link between blockchain-related terminology and the intricacies of varying blockchain protocols. By borrowing frequently misused terms without questioning their technical accuracy, policy-makers may unwittingly stifle innovation and develop legal regimes that are ill-suited for their intended purpose. This chapter explores six specific language landmines prevalent in blockchain and NFT discussions, urging researchers, lawmakers, industry members, and other stakeholders to bridge the understanding gap. By addressing these linguistic pitfalls, the chapter advocates for informed and comprehensive policy-making that keeps pace with the evolving landscape of blockchain technology and its applications, including NFTs.

Non-fungible tokens (NFTs) introduce unique concerns related to the privacy of personal data. To create an NFT, users upload data to publicly accessible and searchable databases. This data can encompass information essential for the creation, transfer, and storage of the NFT, as well as personal details pertaining to the creator. Additionally, users might inadvertently engage with technology crafted to gather personal data. Traditional paradigms of privacy have not evolved in tandem with advancements in NFT and blockchain technology. To pinpoint where current privacy paradigms falter, this chapter delves into an introduction of NFTs, elucidating their foundational technical mechanisms and processes. Subsequently, the chapter juxtaposes current and historical privacy frameworks with NFTs, underscoring how these models may be either overly expansive or excessively restrictive for this emerging technology. This chapter suggests that Helen Nissenbaum’s concept of “contextual integrity” might offer the requisite flexibility to cater to the distinct attributes of NFTs. In conclusion, while there is a pronounced societal drive to safeguard citizen data and privacy, the overarching aim remains the enhancement of the collective good. Balancing this objective, governments should be afforded the latitude to equate society’s privacy interests with its imperative for transparency.

Non-fungible tokens (NFTs) built in the blockchain are quietly revolutionizing ideas around digital assets despite their questionable status under current law. The smart contracts that control many NFTs are disrupting the way deals are done. At the same time, disputes regarding NFTs and smart contracts are inevitable and parties will need means for dealing with these highly technical issues. The chapter tackles this challenge and proposes that parties turn to online dispute resolution (ODR) to resolve NFT and smart contract disputes efficiently and fairly. Furthermore, the chapter acknowledges the benefits and challenges of current means for addressing blockchain issues and proposes ideas for how designers could address those challenges and incorporate ODR to provide efficient and fair resolutions.

Non-fungible tokens (NFTs) are used in numerous markets for collectibles, art, securities, and commodities. These are different markets, and there is no regulatory framework for all NFTs. To determine a proper legal regime, it is essential to locate the market to which an NFT belongs. This task requires a deep understanding of the economic realities of the associated rights, assets, and transactions. Economic-reality-based interpretations should provide a solid footing for better regulation of NFTs in the US and other jurisdictions grappling with NFT regulation. The new cryptoasset regime in the EU already incorporates a “substance over form” approach. In the US, courts have been successfully applying the Howey test to examine transactions and schemes and establish whether securities law should apply to cryptoassets. In 2023, the SEC and a US federal district court applied the Howey test to demonstrate why and how securities law built for legacy markets where mainstream assets are fungible could apply to transactions in non-fungible assets. The decisions are an example of establishing economic realities of transactions with novel assets regardless of the underlying technologies on which the assets are built. An economic reality approach should help courts and other policy-makers ascertain to which market an NFT belongs and which corresponding legal regime should govern.

This chapter addresses the phenomenon of unauthorized minting of NFTs. Specifically, the chapter examines whether copyright law should allow minting of NFTs that is not authorized by the author of the underlying work. Despite the immense growth of the NFT market, the answer to this question has remained unclear under extant copyright laws around the world. To provide foundations for policy-making in this arena, the chapter seeks to form a normative stance towards the question of unauthorized minting. It does so by analyzing this question from the perspective of the key theories that underly copyright law, including the utilitarian theory, the labor theory, and the personality theory. The matter is also examined from the viewpoint of cultural diversity and distributive justice considerations, which provide important underpinning for copyright policy. All in all, the analysis offers a normative basis for the conclusion that the right to mint an NFT should be awarded to the author of the work that underlies the NFT.

This chapter delves into the challenges and opportunities surrounding the use of non-fungible tokens (NFTs) as a marketing tool. It explores how advertising and marketing have undergone a transformative shift in the 2020s, fueled by user-generated content and advancements in technology. The rise of the Creator Economy and the significant role of NFTs within this ecosystem are thoroughly examined. The chapter places a specific focus on the connection between NFTs and consumers, with an emphasis on early adopters and younger generations such as Gen Z (born between 1996 and 2010) and Gen Alpha (born between 2011 and 2025) consumers. It delves into their preferences, perspectives, and interests in NFTs, while taking into account the broader landscape of the evolving Creator Economy. Ultimately, the chapter advocates for marketers to understand the immense potential of NFTs and embrace consumer empowerment. By doing so, they can navigate the Web 3.0 era effectively and harness the power of NFTs to drive engagement and establish meaningful connections with their target audience.

For the past decade, blockchain, along with the recent ascent of non-fungible tokens (NFTs), have been hailed as revolutionary tools with the power to reshape the global economy, particularly in the context of property rights. In this chapter, drawn in part from the authors’ earlier work, the use of blockchains and NFTs in real property transactions is questioned by interrogating how the existing technologies work against the backdrop of the realities of real property transfers. Moving beyond the hype, the authors explain that a blockchain system would provide few if any benefits to the system of real estate transactions. Yet they think there is indeed a potential use case for blockchains and crypto technology when it comes to property rights. But, it is not in the world of real property – which our existing system has largely shown itself to be sufficient – but rather for intangible property. American law developed to deal with tangible assets, whether personal or real, owing to their historical prominence as primary wealth. But tracking and transferring rights in intangible property has always been underdeveloped. It is here, so we argue, that blockchain technology and NFTs might have the highest utility.

The market of non-fungible tokens (NFTs) is rapidly growing and their potential uses and applications are still being discovered. The rapid growth of this market, coupled with the unique nature of NFTs, which do not fit squarely within the existing regulatory frameworks, creates a regulatory gap between existing and effective regulation of NFTs. This gap, in turn, creates a policy-making dilemma: on the one hand, regulating NFTs too quickly could prevent efficient uses and applications from being discovered and deployed, thus stifling innovation. On the other, leaving NFTs unregulated could leave investors unprotected from the risks posed by this innovation. With this dilemma in mind, this chapter argues that regulation of NFTs should occur sparingly, and to the extent that it does occur, regulatory experimentation and competition emerges as the most promising approach. In the US, one place where regulatory competition exists is between and among the states. State regulation in the areas of securities and virtual currency and money transmission can be used to address some of the prominent present concerns posed by NFTs, such as frauds and money laundering, and states have the opportunity to experiment as NFTs evolve and are refined.

This chapter delves into the future of the complex and evolving world of non-fungible tokens (NFTs), focusing on their potential to drive mass adoption of blockchain technology. Beginning with some historical context, the chapter explores the rapid growth of NFTs in the digital art and collectibles space, most notably during the speculative boom in 2021–2022 and the subsequent crash. The chapter then investigates how NFTs might expand beyond these initial use cases. It describes major developments in technology, business models, and financial infrastructure that will support further evolution of NFTs. Using real-world examples, the chapter then discusses emerging categories of NFT use cases, such as tokenization of physical assets, ticketing, and digital identity. It concludes by emphasizing that the true mass adoption of NFTs will occur when the technology becomes invisible and the primary draw becomes the value of use cases, not the novelty of NFTs themselves. While one should be skeptical about specific predictions for massive NFT adoption, this chapter shows that the capabilities NFTs provide are poised to add value in a wide variety of contexts.

In an era where two-fifths of the global population is engaged in gaming, this industry’s technological and economic evolution is of paramount importance, promising continued growth. Beyond mere entertainment, gaming has become a primary medium for social interaction, enriched by technologies like virtual, augmented, and extended reality. Gaming has increasingly become intertwined with the financial market as game developers shift their focus from gameplay enjoyment to monetization of in-game assets and some players prioritize the potential for livelihood in gaming. This transformation has been accelerated by the integration of blockchain, decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs), which provide users with more control over their in-game assets and enable external trading of such assets in the secondary market. This chapter delves into this integration, examines its impact on the gaming industry, and provides a high-level overview of key related legal and ethical issues that warrant further exploration.

As blockchains in general and NFTs in particular reshape operation logistics, data creation, and data management, these technologies bring forth many legal and ethical dilemmas. This handbook offers a comprehensive exploration of the impact of these technologies in different industries and sectors, including finance, anti-money laundering, taxation, campaign-finance, and more. The book specifically provides insights and potential solutions for cutting-edge issues related to intellectual property rights, data privacy and strategy, information management, and ethical blockchain use, simultaneously presenting insights, case studies, and recommendations to help anyone seeking to shape effective, balanced regulation to foster innovation while safeguarding the interests of all stakeholders. This handbook sets out an invaluable roadmap for navigating the dynamic and evolving landscape of these new technologies.

The chapter explores the profound implications of non-fungible tokens (NFTs) within the context of the Web 3.0 movement and the burgeoning metaverse landscape. While NFTs have already found some economic traction in analog settings, their potential is most transformative in a purely digital realm. NFTs offer unparalleled provenance and tradability for digital assets, circumventing centralized intermediaries. The metamorphosis of NFTs and their role in the emergence of the metaverse will determine their full impact. As metaverse platforms evolve, enabled by NFT interoperability and consumer trust, they are poised to reshape the leisure economy and extend into education and employment. The true value of NFTs lies in their integration into an interconnected, dynamic virtual world revolutionizing various facets of society. While existing regulations provide a framework, they will inevitably adapt if and as the metaverse gains prominence, necessitating agile regulatory responses to this transformative landscape.

"Recent years have witnessed the rise of non-fungible tokens (NFTs) as vehicles for non-investment finance, including in nonprofit and political fundraising. As with other financial sectors in which NFTs have a role, the use of NFTs in financing nonprofits and political campaigns and committees has revealed gaps and ambiguities in existing legal regulatory systems. Appetite exists to evolve legal frameworks to complete and clarify applicable bodies of law and regulation.