EIRP Proceedings, Vol 13 (2018)

The Notions of Blockchain and Smart Contract from the Point of View of the Intellectual Property Right

Radu Stancu

Abstract


The paper proposes a legal definition of the notions of blockchain and smartcontract from the point of view of the intellectual property right.Therefore, this researchbrings to light the effects of new technology on the positive law and, above all, on thenotion of contract.By applying the blockchain technique, the parties optimize costs andsignificantly reduce the time needed to produce legal effects, particularly by eliminatingthird parties.However, this technique creates a real series of legal issues that already givejurists the opportunity to develop new theories of law by finding solutions to them.

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