Intellectual Property Blockchain Odyssey: Navigating Challenges and Seizing Opportunities

Abstract

This paper investigates the evolving relationship between protecting Intellectual Property Rights (IPRs) and blockchain technology. We conducted a comprehensive literature review, supplemented by case study analyses and research paper reviews, to understand the scope and implications of blockchain about intellectual property rights. Our study demonstrates how applying blockchain technology for IPR could revolutionize transparency, security, and operational efficiency. It also identifies the primary challenges and openings in this area. We provide an extensive framework for integrating blockchain technology with intellectual property rights and other technical components (some of which already exist or are resolved by blockchain; some might need attention), drawing on current research and best practices. This framework has the potential to give a new perspective in a structured manner for the intellectual property landscape by providing 360-degree coverage across different layers of operation.