Jessica Neer McDonald: An IP Lawyer on NFTs and AI - [Web3 Breakdowns, EP.71]

This is Eric Golden and my guest today is Jessica Neer McDonald, an attorney focused on intellectual property rights and the head of global trademark services at Midjourney. The rise of NFTs and AI generated artwork has opened up all sorts of interesting questions about IP and ownership. Jess is my go-to knowledge base for this topic. In this episode, Jess takes us through the nuances of IP law and how it might apply in Web3. We discuss major NFT lawsuits like Yuga Labs, Hermes, and Nike, and the precedent they set in this transition from physical to digital property rights. Finally, we talk about AI art and its opportunities and unique challenges. Please enjoy my conversation with Jessica Neer. For the full show notes, transcript, and links to the best content to learn more, check out the episode page here. ----- This episode is brought to you by OKX. You may have seen OKX on McLaren’s Formula 1 race car or Manchester City’s football kit. But what is OKX? OKX has over 730 spot trading pairs, 280 derivatives markets, and 1000 options markets. It processes 400,000 requests per second with 99.95% uptime. That’s why over 20 million traders and institutions choose OKX when they want to trade. Visit okx.com to learn more. ----- Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes. Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here. Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag  Show Notes (00:01:44) - (First question) - How her transition from the traditional world to the digital one has shifted her thinking on IP and protections (00:03:21) - Overview of the MetaBirkins lawsuit during the peak of the NFT surge  (00:06:14) - The Tom Sachs rockets and where the legal line is drawn for them versus MetaBirkins (00:09:01) - Differences between copyright and trademark law (00:09:37) - How using logos is fair use and not teetering on a lawsuit like Tom Sachs’ rockets (00:13:21) - Overview on the Yuga Labs and Ryder Ripps trademark dispute  (00:17:03) - Analyzing the nature of the court case and the precedent it set  (00:20:45) - Whether or not it’d be possible to sue someone for making a brand out of your Bored Ape or a similar NFT (00:23:47) - The pros and cons of the different licensing options a project could choose (00:28:41) - Matt Furie’s Pepe the Frog being memed and when he could take legal action (00:30:27) - The seventy years after death protection and IP becoming public domain (00:32:38) - Defense, patents, and being on to something when Nike tries to sue you  (00:36:00) - Being the head of global trademark services for MidJourney and Tarantino’s dream project that never took off (00:40:41) - AI generated art and the complex legal models behind them (00:43:28) - What she’s excited to see unfold over the next six months and six years Learn more about your ad choices. Visit megaphone.fm/adchoices