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Website Terms of Use and Privacy Policy: When Is It Time to Update?


If you have a website or an app, you (hopefully) know that you need to have Terms of Use and a Privacy Policy. The Terms of Use (also referred to as TOU, Terms and Conditions, or Terms of Service) is a contract that users enter into when they use your website/app or any of the features or services found therein. The TOU can limit your liability, set out who owns what, and make it clear what happens if there’s a breach, among other things. A Privacy Policy details what type of information you collect from your users and how you…

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DeFi & Crypto Trademarks


What do people in the DeFi and cryptocurrency space need to know about trademarks? I’ve written about cryptocurrency and related topics before: see Trademarks and the Blockchain (2018) and NFTs and Copyright Law (2021). Even people who have been skeptical about cryptocurrency are beginning to identify use cases. For example, George Mason University economist Tyler Cowen recently wrote in Bloomberg: “After many years of doubt and uncertainty, a killer app has finally been found.” Cowen goes on: The core use case for crypto is called DeFi, a recently coined abbreviation for “decentralized finance.” DeFi doesn’t have a formal definition, but it…

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What is Goodwill and What Does It Have to Do With Trademarks?


“Goodwill” (or “good will”, it’s written both ways) refers to a consumer’s positive opinion of a product or service and their willingness to purchase it again in the future or to refer it to a friend or colleague. If you like Starbucks coffee, the product can be said to have goodwill. Goodwill and trademarks are inseparable. This is a legal fact: the Lanham Act, which is the Federal law that governs trademarks, states that a trademark can only be sold or transferred (“assigned”) “with the good will of the business in which the mark is used, or with that part…

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NFTs & Copyright Law


What is an NFT, and how does copyright law come into play? The term NFT stands for “non-fungible token”. A Bitcoin is a fungible token, just like dollars are fungible. One Bitcoin is the same as another, exactly as one U.S. dollar is equal to any other U.S. dollar. Unlike Bitcoins or dollars, each NFT is unique. An NFT is a digital certificate of ownership. It’s simply a way of stating, and verifying, who is the owner of any digital asset, such as a piece of art. The reason anyone cares about NFTs is that they make it easy for…

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