Safely store all types of intellectual property.
In today's knowledge economy, intellectual property in all of its forms is more important for economic success than most other resources and increasing competition on a global scale makes its protection and management a decisive factor in the quest to succeed commercially. Vaultitude securely stores intellectual property and documents its existence using Blockchain technology. Every user account comes with a secure, digital vault, in which all uploaded, licensed or purchased IP as well IP drafts and NDAs are stored. Of course the vault's contents can be searched and sorted. Uploading intellectually property to your vault is done by using the upload forms for the respective type of IP, which follow WIPO guidelines and international classifications. The system also differentiates between public IP and confidential IP data, which is fully encrypted before the upload. For additional protection, Vaultitude has been designed to ensure the compliance with IP guidelines in larger organizations. Business accounts allow administrators to assign individual user rights to ensure that no unintended or undesired actions with potentially unfavourable legal consequences can be taken by team members with insufficient authority or experience.
Establish prior art through superior defensive publication.
Defensive publication is an intellectual property strategy used to prevent another party from obtaining a patent, to retain freedom to operate, to stop or facilitate patent litigation and to protect one's patent portfolio without spending patent application funds. Used by companies, inventors and researches this strategy requires the disclosure of an invention in a way that ensures that the invention enters the public domain and thus becomes prior art. To successfully obtain this status specific legal criteria have to be met, among them that defensive publications must be “sufficiently accessible” and that they cannot be changed later to fit the needs of the publishing party. Current methods to establish prior art come with a number of downsides – traditional online publication is not immutable or secure, publication in printed journals takes a lot of time, multiple third parties may get access to unprotected information before its publication, associated costs tend to be high and physical copies may not be globally available. Defensive publication via Vaultitude on the other hand is superior to current alternatives thanks to the Blockchain's notary-like characteristics, its immutability and worldwide availability of the data. Vaultitude makes obtaining the status of prior art faster, safer and considerably less costly.
Securely share confidential information.
The majority of intellectual property exists as unregistered confidential information, also called trade secrets, that constitutes the largest class of corporate assets and come come in every form and type. Those secrets regularly have to be exchanged with business partners, researchers, manufacturers, authorities and other third parties, which comes with a number of legal risks linked to misconduct by the receiving party. To ensure legal protection so-called non-disclosure agreements or “NDAs” serve to document the acceptance of the rights of the sharing party by the receiving party. Sending NDAs however tends to be time consuming for a number of practical reasons, especially in larger organisations. The most recent version has to to identified, requested, edited, printed, signed, scanned and then sent to the other party for it to do the same and return the contract. Multiple paper copies of the NDA also result in the risk of tampering with the document after signing. Vaultitude revolutionizes the easy sharing of confidential information by requiring no more than a mouse click to safely share a piece of intellectual property with a third party. The process is fully automated - linking the NDA document to a specific IP, placing it as evidence on the Blockchain and making its signature an automatic prerequisite for gaining access to the data gives the user unprecedented control over the data that is being released to a third party. This feature of Vaultitude solves the common problem of insufficient transparency in companies or universities, where it often cannot be determined with information actually got exchanged after signing an NDA.
Gain proof of ownership of unregistered IP.
Copyrights are unregistered rights owned by the creators of literary or artistic works that include texts, music, paintings, sculptures, digital creations such as 3D files, traditional films and also computer programs, designs, architectural plans and technical drawings. Unfortunately, merely owning these rights, and therefore being legally entitled to deciding about their use by others and eventual compensation, does not always mean unlawful use can effectively be prevented or stopped. This proof has to be admissible in court and personal notes, witness statements and any information stored on web servers have been shown to be insufficient and unreliable evidence. Vaultitude on the other hand makes use of the immutability of the data stored on a Blockchain and clearly proves the author has been in the sole possession of the IP prior to anybody else. This provides the author with the admissible evidence required in court and legal proceedings to protect his rights.
Optimally protect trade secrets.
New IP laws such as the EU Trade Secrets Directive require that all trade secrets need to be subject to reasonable protection measures and that the mere intent of the trade secret owner to keep information secret is no longer legally sufficient. This raises the question of how to achieve evidence of such protection measures as secure physical storage may be hard to prove at a later date. A company failing to provide such proof of protective measures may lose its trade secret protection.
By securely placing encrypted trade secrets in their digital Vaultitude vault, companies can easily and quickly use a reasonable method to protect their trade secrets and receive definitive evidence of their actions including a documentation of who had access to the data and whether the owner has shared it with third parties.
Document the actual use of trademarks.
Trademark law differs between jurisdictions, with some also recognizing trademarks rights arising through use, while others strictly require trademark protection to be obtained through registration with the national trademark office. In the United States, registration requires to prove that a trademark is being used in commerce and to do the same to maintain or renew that registration. Owners of unregistered trademarks nevertheless possess legal rights, derived from a common law business principle, within the area they operate in to prevent others from misleading consumers about a product’s or service’s true origin. Following these principles of “use them or lose them” and “common law unregistered trademarks”, evidence for the documented use of marks is desirable to their owners and can be achieved by storing such information on Vaultitude.
Document the transfer of IP rights.
If Blockchain can establish proof of authorship then it can also document transfer of title and thereby has the potential to affect digital rights management, which so far has relied on central authority. Vaultitude can be used to conveniently and safely document the transfer of intellectual property between different parties and is being used to create evidence for the fulfilment of sales contracts between the seller and the buyer of an IP.
Convenienty sell or license IP.
Vaultitude offers different options for the monetization of intellectual property and can be used to conveniently execute sales or time-limited license deals directly and document those on the Blockchain. Due to the Blockchain’s ability to run smart contracts, licensing and sale of digital assets can be effectively automated, with a user's decision to acquire a certain right triggering the correspondent payment in real time and at the same moment transferring the desired data.