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Social media accounts will become the objects of intellectual property

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Russia. Moscow, March 13, 2019

Social networks contain a massive block of intangible assets which may hold commercial value in the future, say the experts of the Global IP Exchange event held in Berlin on March 13, 2019.

At a roundtable dubbed “New types of intangible assets and their relation to intellectual property”, organized by the IPChain Association and the Skolkovo Foundation, experts said that all social media users today possess intangible assets and potentially new categories of intellectual property.

Matthew M. Yospin, patent and intellectual property attorney, noted in his speech:  “subscribers, public exposure, posts, likes, locations of users, how much time do they spend there, locations of content views,  which content they like or add to favorites, will be referred to intangible assets. All these assets may be monetized.

We are all familiar with Facebook, Twitter and LinkedIn. Everyone knows that certain social mechanisms for monetization have already been implemented in these social networks”.

The representative of the Presidential Commissioner for Protection of Entrepreneurs’ Rights in the Internet (Internet Ombudsman) and the head of the Radius Group Dmitry Marinichev said that the focus in creating intellectual property objects is assigned to “what we see and what feel, but we have never thought about the need to register rights for ideas and concepts.

We are convinced that we need to license the final product, but today every user in social networks has large categories of data and resources”.

A moderator of the roundtable, Director of the Center for Legal Technologies of the Skolkovo Foundation, Anton Pronin, validated his statement, saying that “in a digital environment smart data acquires the value which will be attributed to intellectual property in the future. By ensuring this, we’ll get a big market, a blue ocean with a massive potential for commercialization. But it won’t be feasible if we don’t provide an efficient “transport,” enabling the participant of this market communicate with each other. It will become possible with the help of innovative technologies, newest services and platforms”.