Negotiating on the transfer of technology (TOT) (the extent of necessary adaptation, transfer of physical material, integration of technology, instruction, competition) and drafting TOT agreements (assignment of intellectual property rights directly, acquisi-tion of intellectual property rights as part of a purchase or merger, a joint venture agreement, a franchise agreement, a licensing agreement);
A s emerging technology is becoming quite sophisticated, the use of any computers, storage, networking and other physical devices, infrastructure and processes to create, process, store, secure and exchange all forms of electronic data is broadened and redefined on the daily bases.
The introduction of certain concepts has been revolutionary, such as the introduction of Cloud Computingutilizing software development platforms, servers, storage and software, over the internet (often referred to as the “Cloud,)” and different deployment models, the introduction of Application Program Interface (API) as definitions, protocols and tools that specify how different software should interact and allowing the development of computer programs such as personal finance management applications that access a person’s bank (or other) account information to provide a range of facilities
(e.g. financial management tools), the introduction of Internet of Things (IoT) (it is not a technology per se)using several technologies with the purpose of connecting everyday life devices (e.g., refrigerators, house alarms, mobile phones, cars) to the Internet in order to provide value to the customer, including facilitating financial transactions such as purchases and bill payments, or providing security services, among many other applications, the introduction of Distributed Ledger Technology (“DLT”) meaning a digital or electronic database or ledger that is distributed, decentralized, shared and replicated, may be public or private, permissioned or permissionless and is auditable, immutable and protected with cryptography, the introduction of Network and Nodes (used in data communications, internet network nodes, local area network and wide area networks, telecommunications network nodes, cable television system nodes) with the use of distributed networks and packet switching, the introduction of Cryptocurrency as a resource of value on a decentralized, convertible, math-based, peer-to-peer network, virtual currency that incorporates principles of cryptography to implement a distributed, decentralized, secure information economy and relies on public and private keys to transfer value from one person (individual or entity) to another, requiring to be be cryptographically signed each time it is transferred, the introduction of CryptocurrencyWallets, local or hosted, which store the private keys allowing one’s access to cryptocurrencies stored on the distributed ledger, such combination of private and public keys is used to transfer ownership of funds in cryptocurrencies from one wallet to the other, the introduction of Smart Con-tracts meaning an automatable and self-enforceable agreement by computer code (although some parts require human input and control) in a form of technology arrangement on a DLT. The Legal world has to catch up and reflect the emergence of different ways of transmittal of information or the systems which facilitate communication.