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

Abstract

The paper proposes a legal definition of the notions of blockchain and smart contract from the point of view of the intellectual property right.Therefore, this research brings to light the effects of new technology on the positive law and, above all, on the notion of contract.By applying the blockchain technique, the parties optimize costs and significantly reduce the time needed to produce legal effects, particularly by eliminating third parties.However, this technique creates a real series of legal issues that already give jurists the opportunity to develop new theories of law by finding solutions to them.