How to do digital media intellectual property (IP) management? Digital media are digitized texts or software, audios and audio-visuals, and goods and services that make a difference are embedded with one or more types of IP rights. IP management is the process dealing with the results of intellectual effort such as copyright digital media from acquisition to exploitation.
In my view, every successful business has three essential elements: (1) Creativity/Innovation, (2) Marketing/Brand Management and (3) IP such as original copyright works, inventive patents, eye-appeal designs, and trademarks for goods and services. The universality of digital media has made copyright authorship, ownership and licensing economically more relevant than before, and at the same time, blockchain-backed smart contract platforms are developing fast.
China identifies the Belt and Road business opportunities, the world recognizes them, and it is up to us to capitalize on them. I discern the IP management trend is to integrate the processes, from creation to commercialization, from monopolistic collective administration to distributed independent operation, and from free-riding to payment of nominal royalties. I believe blockchain-backed smart licensing contracts operating at zero cost can be a total technical solution in rewarding digital media providers and in nurturing positive social and cultural development!
What is constant is change and we have to adapt to it. Instead of reacting to the change, it should be better if we try to lead change, be the trendsetter and shape the environment. I believe a small group of thoughtful and committed people engaging in the creative blockchain business in the digital media context can change the world!