1-Hour Program

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Overview

NFTs are the newest investment vehicles powered by smart contracts, blockchain, cryptocurrency and in some small part IP law. In theory, an NFT provides a secure, unalterable means of tracking ownership of any particular copy of a digital work.  This review breaks down what NFTs are in simple terms, how they are created, transacted, who is trying to regulate it and a list of other issues that might crop up as clients start creating NFTs.

Mark Stignani, Chair of Analytics/Partner at Barnes & Thornburg LLP and former in-house counsel at Thomson Reuters, (Westlaw) will teach the basics around understanding and counseling:

  • NFT definitions [5 minutes]
    • Coverage of the presently 10 types of NFTs
  • NFT ecosystem definitions [15 minutes]
    • Platforms
    • Smart contracts
    • Marketing/Sales
    • Blockchains
    • The NFT transaction process
  • Legal issues, scams and challenges for those working with NFTs (CC) [15 minutes]
    • Lifespans of NFTs
    • Current NFT scam
    • Solid NFTs examples
    • Security concerns
  • Which regulatory authorities are attempting to regulate the use of NFTs [15 minutes]
    • Federal/State/International
    • Tax authorities
    • Partnership issues
    • Value/Valuation Issues
  • Issue spotting checklist for engaging with NFTs [5minutes]
    • Profile of a scam
    • Identification of solid NFT approaches
  • Conclusions and practice tips for those getting started [5 minutes]

 

 

Program Level:  Overview

Intended Audience:  Attorneys in private practice, in-house counsel, counsel for non-governmental organizations and think tanks

Prerequisites:  An interest or need to understand the law/regulation around NFTs

Advanced Preparation:  None

 

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