Business & Employment Law Attorney
866-693-5541 | 303-424-4286

The role of intellectual property in cryptocurrency

Colorado startups and existing companies in a wide range of industries are trying to take advantage of blockchain technology and cryptocurrencies. Many of these companies are creating new coins, software and infrastructure to support their ventures. As part of the process, experts say they should strongly consider protecting their intellectual property. There are several different types of IP protection available depending on the type of information involved.

Patents are viewed as the most powerful type of intellectual property protection, but this legal tool has many complications when it comes to blockchain technology. Ethical concerns, the instability of crypto-related industries and the difficulty in proving eligibility have all hampered the ability of companies to obtain patents. Another problem is that blockchain was originally developed to be decentralized, free and open source, all concepts that are contrary to the purpose of patents.

Despite the complications involved with patents and crypto, filings related to the technology have increased. Many of these filings are being done by some of the largest corporations, mostly financial companies, in the United States. While federal courts have hesitated to grant patents for crypto when they've viewed it as a mere form a financial transaction, they may grant protection if the company filing can prove enhanced functionality such as greater security or efficiency.

Companies looking to protect their intellectual property related to crypto or other technologies should consult with an attorney to see what their options are. Patents aren't always possible to obtain, but a lawyer will use all the knowledge and resources at their disposal to help a client find ways to protect their unique intellectual assets. Specifically, trademarks and copyrights can be valuable legal protection tools when a patent isn't possible.

No Comments

Leave a comment
Comment Information
  1. "I used the Bryan E. Kuhn, Counselor at Law, P.C. team to help me with a case. They were always professional, upfront, and positive providing guidance while keeping me informed."
    - L.H.

  2. "Everyone at the firm was professional, responsive and courteous. Kate was exceptionally knowledgeable and responsive and she helped me to achieve the desired outcome. I would definitely recommend this firm if you are in need of superior legal assistance."
    - J.S.

  3. "Bryan and his law firm operate with great professionalism and personal touch. I appreciated the way he and his team offered transparent communication."
    - N.S.

  4. "Kate & team were very professional in helping me to get through an uncomfortable ADA situation at my workplace. This was a very good legal experience. I would recommend Bryan E. Kuhn & team to anyone who needs work related legal help."
    - D.L.

  5. "Bryan, Katie, and all the staff in this office are super fast to respond, expert in their fields, and always helpful. We have been extremely pleased with their services for our small business."
    - T.Z.

  6. "Working with Bryan was amazing. His professionalism made a very stressful and difficult challenge as positive as possible. A great lawyer"
    D.K.