APPARATUS AND METHOD FOR FRAND LICENSING AND TRANSACTION COSTS FOR MORE INDIVIDUAL LICENSE AGREEMENTS THROUGH SMART CONTRACTS ON THE BASIS OF BLOCKCHAIN TECHNOLOGY

摘要

The present invention is a self-executing FRAND licensing method and system incorporating partially software-supported and automated contract design and administration, resulting in lower transaction costs, more individual and flexible licensing models, and improved contract management by use of smart contracts. Smart contracts use algorithms for automatic execution via a processing unit when a required event occurs. Licensing terms and information is continuously updated, categorized and stored in a database that is connected to the processing unit. The processing unit recognizes and evaluates changes and in turn executes the contractual result for the respective case. The data required for the execution of the license agreements could be documented by using blockchain technology in a peer to peer arrangement. Automated licenses are transferred to individual patent registers into a uniform digital file format merged into a worldwide register. Automated contract design is combined with secure blockchain data storage, and a continuous, value-based top-down approach. Comparative licenses can be used in addition to checking the license fees calculated by valuation algorithms in individual cases.