🚀 SEC Commissioner Clarifies NFT Creator Royalties Not Securities
#SEC #NFTs #Royalties #Securities #CreatorRoyalties #HesterPeirce #InvestmentReturns #BusinessIncome
According to Odaily, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated in a public speech that NFTs with creator royalty mechanisms are generally not considered securities. Peirce highlighted that the ability of NFTs to allow artists to profit from resales is similar to how streaming platforms pay creators for copyrights, and this form of revenue distribution does not constitute a 'share in corporate profits' as defined in traditional securities.
Oscar Franklin Tan, Chief Legal Officer at Atlas Development Services, added that some media outlets have misinterpreted Peirce's remarks, emphasizing that the SEC has never regarded creator royalties as a subject of securities regulation. He explained that when royalties are solely attributed to the original creator, they resemble 'business income' rather than 'investment returns.' However, if an NFT's design involves distributing royalty profits to multiple holders, it could potentially trigger securities compliance issues.#SEC #NFTs #Royalties #Securities #CreatorRoyalties #HesterPeirce #InvestmentReturns #BusinessIncome
🚀 Story Protocol and OpenLedger Introduce New AI Training Data Copyright Standard
#AItrainingdata #copyright #IP #licensing #royalties #StoryProtocol #OpenLedger #cryptography #AI #intellectualproperty #automation
Story Protocol and OpenLedger have jointly announced the launch of a new standard for copyright clearance and automatic payment to creators concerning AI training data. According to Foresight News, this standard enables AI systems to train on authorized intellectual property while cryptographically proving IP usage, enforcing licensing terms during runtime, and automatically distributing royalties to rights holders when copyrighted content is used in AI activities or outputs.
Within this standard, Story Protocol serves as the normative registration center for intellectual property, defining ownership, licensing terms, derivative permissions, and economic rights in a machine-readable format. OpenLedger acts as the AI execution and verification layer, enforcing licenses during training and inference, cryptographically verifying IP usage, and automatically routing payments when authorized content contributes to model behavior or AI-generated derivatives.#AItrainingdata #copyright #IP #licensing #royalties #StoryProtocol #OpenLedger #cryptography #AI #intellectualproperty #automation
🚀 Fosun Pharma Grants Eisai Exclusive License for Hansizhuang Commercialization
#FosunPharma #Eisai #exclusiveLicense #Hansizhuang #serplulimab #pharmaceutical #licensingAgreement #upfrontFee #regulatoryMilestones #salesMilestones #royalties #commercialization #globalPartnership #biopharma
Fosun Pharma announced on February 5 that it has entered into a licensing agreement with Japanese pharmaceutical company Eisai Co., Ltd. According to Jin10, the agreement grants Eisai exclusive rights to commercialize the product Hansizhuang® (serplulimab injection) within specified regions and fields. Eisai will pay Fosun Pharma an upfront fee of $75 million, along with regulatory milestone payments totaling up to $80.01 million, contingent upon achieving various regulatory milestones in the designated regions. Additionally, commercial sales milestone payments could reach up to $233.33 million, based on annual net sales levels of the licensed product in the region. Eisai will also pay royalties calculated as a double-digit percentage of the annual net sales of the licensed product in the region.#FosunPharma #Eisai #exclusiveLicense #Hansizhuang #serplulimab #pharmaceutical #licensingAgreement #upfrontFee #regulatoryMilestones #salesMilestones #royalties #commercialization #globalPartnership #biopharma
🚀 Moderna Settles Global Litigation with Arbutus and Genevant Sciences for $950 Million
#Moderna #Arbutus #GenevantSciences #LegalSettlement #VaccineDevelopment #IntellectualProperty #PharmaceuticalIndustry #Royalties #Bloomberg #Litigation
Moderna has reached an agreement to pay $950 million to resolve all legal disputes globally with Arbutus Biopharma and Genevant Sciences. Bloomberg posted on X that the settlement covers existing and future vaccines, ensuring that no future royalties will be owed by Moderna. This resolution marks a significant step for Moderna in clearing legal hurdles related to its vaccine development. The agreement aims to eliminate ongoing litigation, allowing Moderna to focus on its vaccine production and distribution efforts without the burden of potential royalty payments. The settlement underscores the importance of resolving intellectual property disputes in the pharmaceutical industry, particularly as companies continue to innovate and expand their vaccine portfolios.#Moderna #Arbutus #GenevantSciences #LegalSettlement #VaccineDevelopment #IntellectualProperty #PharmaceuticalIndustry #Royalties #Bloomberg #Litigation
🚀 AI-Generated Music Fraud Case Uncovered in North Carolina
#AIGeneratedMusic #MusicFraud #NorthCarolina #AI #MusicStreaming #Fraud #Royalties #Spotify #AppleMusic #CriminalCase #BotAccounts #VPN #MingPao #ArtificialIntelligence #MusicIndustry #StreamingFraud
Between 2017 and 2024, Michael Smith from North Carolina orchestrated a large-scale music streaming fraud using AI technology. According to Ming Pao, Smith generated hundreds of thousands of songs with AI and managed approximately 1,040 cloud service accounts at the peak of his operation. Each account hosted 20 bots, totaling around 20,800 bot accounts. These bots, disguised as real listeners through VPNs, continuously streamed his AI-generated music around the clock. This scheme resulted in a daily peak of about 660,000 plays, allowing Smith to fraudulently collect over $8 million in royalties from platforms like Spotify and Apple Music. This case is considered the first criminal incident of AI-assisted music streaming fraud in the United States and possibly the world.#AIGeneratedMusic #MusicFraud #NorthCarolina #AI #MusicStreaming #Fraud #Royalties #Spotify #AppleMusic #CriminalCase #BotAccounts #VPN #MingPao #ArtificialIntelligence #MusicIndustry #StreamingFraud