The tip of the iceberg
The advent of the internet, now referred to as Web 1.0, made more impact on our daily lives than any other technology in the past 50 years. Web 2.0 evolved this technology to enable ordinary people to become the creators of shared information through social media, video sharing sites and other content creation platforms. Today, Web 3.0 uses blockchain technology to enable value to be transferred on the internet.
The FinTech companies leading the charge in Web 3.0 are already disrupting the financial services industry by empowering individuals to own their assets without third party custody, simplifying the transfer of money, and introducing dApps and DeFi to provide new simpler methods of financial management. The use of private blockchains and distributed ledgers has impact outside the world of finance. From improving supply chain management to providing transparent tracking and verification of environmental and social sourcing of goods and services, the potential scope of these technologies is virtually limitless. Some of these nascent trustless and decentralised Web 3.0 applications could be transformational and have impact well beyond the hugely successful cryptocurrency technologies like Bitcoin and Ethereum.
Adding to the mix the converging use of virtual reality (VR), augmented reality (AR) and gaming to create the metaverse, as well Non-Fungible Tokens (NFTs) to provide value to digital assets, so far we have only seen the very tip of the iceberg. We are seeing these exciting new technologies transform industries including retail, fashion, medicine, sport, gaming, art, music, property, as well as security and identity management.
Riding the crest of the internet revolution
Having worked with cutting edge companies in the software and online space for over 30 years, we understand the business cycle and the associated IP strategies required to succeed as industries emerge and evolve. We also have deep experience in successfully prosecuting computer implemented inventions, whatever the specific application, patented at the European Patent Office, as well as managing associated global portfolios. Our presence and office in San Francisco is the result of us being the go-to advisors to many of Silicon Valley’s leading software companies throughout the evolution of the internet.
Knowledge you can rely on
Our team of experts has a wealth of experience in patenting software-based technologies. These include: Web 3.0; cryptography; complex mathematical algorithms; crypto-specific applications such as smart contracts, hot and cold storage, and security systems such as wallets; new innovations relating to blockchain scalability, speed and resource use; and cutting-edge distributed ledger architectures and infrastructure. Furthermore, we have decades of experience of handling inventions relating to network, communications, and user interface (UI) aspects of the software stack that will inevitably continue to underpin Web 3.0 applications.
Our trade marks and designs teams are well equipped to deal with the complex brand, design and copyright challenges arising from these fields, especially in relation to NFTs and the metaverse.
Let’s talk openly
We also understand that decentralisation, transparency and open source are critical to the success of crypto. This means we are well-equipped to advise how your patent strategy can align with your open source software approach. Patents and open source are certainly not mutually exclusive, and we can help you successfully navigate the complex legal issues associated with both worlds. Our commitment to ensuring the crypto industry is a success goes well beyond our unparalleled legal advice. For example, we are part of the Crypto Open Patent Alliance (COPA) in Europe and one of our partners, Nick Shipp, is COPA’s European Strategy and Growth Advisor. Through COPA we aim to help ensure that foundational cryptocurrency technologies are free from patent threats to enable the industry to thrive.