Blockchain IP risks and how to manage them

To say that cryptocurrencies and the blockchain technology have attracted a lot of attention in the past decade would be an understatement. Described by some as a “disruptive technology”, it is predicted to revolutionise banks and other financial institutions, but also to have a wide range of other applications. This has led to huge investments in research and development, with banks and big tech companies rushing into the field and a flush of new blockchain-focused startups. It is worth therefore giving some thought to the IP risks facing such companies and what steps they can take to manage them.

The ever-rising interest in blockchain technology can be measured by the filing figures of blockchain patent applications, which can be seen to increase year on year since blockchain first appeared ( see here). This is despite blockchain technology’s being on the fringe of patentable subject matter and its having becoming considerably more difficult to obtain a US patent for inventions made in this field as a result of the US Supreme Court’s decision in Alice Corp v CLS Bank International.