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is an Associate in Crowell’s Chicago office. He works with clients on patent preparation and prosecution for technologies involving analog and integrated circuits, as well as cloud computing and the Internet of Things. He has worked with leading developers and manufacturers of mobile phones, network infrastructure backbones, wireless technologies, and consumer electronics. From amplifiers and antennas to signal processing and video compression, Daniel helps protect innovations that drive success in the marketplace.
Non-fungible tokens, or “NFTs,” have captured headlines, offering the perfect mix of poorly understood technology and incredible sale prices. The first patent NFT auction by True Return Systems and the newly announced patent NFT exchange under development by IPwe and IBM could not be better timed to take advantage of the buzz. With all of the hype, companies understandably wonder whether they need to “tokenize” their patent portfolios to NFTs in this first wave simply to get ahead of the inevitable transition. For most companies, prudence counsels stepping back and letting the technologies and the markets mature. First, blockchain technology, as it currently exists, only creates clarity of ownership though harsh outcomes. Second, creating highly liquid patent license markets may interfere with the existing patent strategies of many patent owners.