WHEN BLOCKCHAIN MEETS FASHION DESIGN: CAN SMART CONTRACTS CURE INTELLECTUAL PROPERTY PROTECTION DEFICIENCY?

38 Pages Posted: 13 Dec 2019 Last revised: 27 Nov 2020

See all articles by Shlomit Yanisky-Ravid

Shlomit Yanisky-Ravid

Yale Law School; ONO Academic College; Yale University - Information Society Project; Fordham University, School of Law

Grace Monroy

affiliation not provided to SSRN

Date Written: April 8, 2020

Abstract

As one of the most creative fields that employs technology, fashion design surprisingly lacks effective intellectual property protection. This article posits that the blockchain platform and smart contract applications can remedy the failure of intellectual property laws to protect designs and dramatically improve the industry. Therefore, the industry as a whole, including luxury brands but also smaller and medium-sized brands and young designers, should adopt these technologies as the solution to their current challenges.

This article explains how blockchain technology can be used to create a crypto-legal structure of endogenous protective laws administered through a decentralized system of self-executing smart contracts that can fill the gap in the existing intellectual property regime. The article further addresses how the adoption of such technology improves the control over designs, the distribution chains, fee collection, international transactions and the fight against infringement, while effectively creating a more efficient and transparent industry. These conclusions are based on theoretical justification focusing on the theory of law and economics.

Finally, the article urges first movers within the fashion industry to adopt blockchain technology and discusses the hurdles that arise with implementing such a system and ends with an assessment of the impact of blockchain-based smart contract on the players in the industry.

Keywords: blockchain, fashion, design, intellectual property

Suggested Citation

Yanisky-Ravid, Shlomit and Monroy, Grace, WHEN BLOCKCHAIN MEETS FASHION DESIGN: CAN SMART CONTRACTS CURE INTELLECTUAL PROPERTY PROTECTION DEFICIENCY? (April 8, 2020). Available at SSRN: https://ssrn.com/abstract=3488071 or http://dx.doi.org/10.2139/ssrn.3488071

Shlomit Yanisky-Ravid (Contact Author)

Yale Law School ( email )

127 Wall Street
New Haven, CT 06511
United States

ONO Academic College ( email )

Tzahal Street 104
Kiryat Ono, 55000
Israel

Yale University - Information Society Project ( email )

P.O. Box 208215
New Haven, CT 06520-8215
United States

Fordham University, School of Law ( email )

140 West 62nd Street
New York, NY 10023
United States

Grace Monroy

affiliation not provided to SSRN

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