- (1) What happens to my past IP, if I stop protecting new IP on the blockchain? Do I still need to continue monthly payments?
If you're not creating more IP then there is no need to pay monthly payments. The monthly payment is only necessary if you keep protecting new IP. You retain all your IP forever regardless.
- (2) What asset do I actually have, if I should I sell my company?
You own your IP represented in a digital asset, backed up by an immutable smart contract. If you sell your company then you simply TRANSFER the asset from your digital wallet to the new owner's digital wallet. Note: Experts believe in the near future all assets will have a digital twin and reside within your digital wallet. (See pic below.)
- (3) What if I want to turn my Easy IP™ Intellectual Property into a Patent, Trademark, or Copyright at a later date?
Easy IP™ functions much like a "Pre-Patent" since it provides an immutable "First Use" of the Intellectual Property. This is achieved through our proprietary process through leveraging blockchain technology and smart contracts. As a result, proving "First Use" is simple through your global and verifiable smart contract. By protecting your intellectual property with blockchain technology and smart contracts, we establish a "First to File" event. This "time stamp" cannot be changed and altered.