Today managing Intellectual Property (IP) rights is a slow and burdensome process that puts the responsibility of registration, settlement and reconciliation on the IP owner first and foremost. For content creators, this creates an obstacle to enforcing their rights over content monetization. For licensed publishers and distributors, the lack of IP accessibility and oversight creates a grey area that 3rd parties take advantage of and profit from.
In order to understand where and how cost efficiencies can be achieved, we must first understand the current process for establishing IP. Currently, there are different procedures that must be followed in order to create IP, which vary by geography, jurisdiction, and type of intellectual property. In the US, copyright protection is established the moment an original work of authorship is “created and fixed in a tangible form that is perceptible either directly or with the aid of a machine or device.”