Saturday, April 27, 2024
HomeLaw New Age Litigation in the NFT Regime

[The Viewpoint] New Age Litigation in the NFT Regime

Even though the matter was eventually settled, the Court, upon deliberation of the various contentions including that of breach of fiduciary duty, conversion, unjust enrichment that was levelled by Roc-A-Fella and Dash’s plea that he merely attempted to sell his ownership interest in Roc-A-Fella Records, without any attempts to sell the copyright or other intellectual property of Reasonable Doubt, ruled in favor of Roc-A-Fella Records and issued a temporary restraining order barring Damon from altering, selling or otherwise disposing of any copyright or other interest in the album, including auction of an NFT reflecting such interest. It also held that doing so would be in breach of his fiduciary duty, as a co-owner. As per the settlement, Roc-A-Fella Records owns all rights to the album and even though Dash retains the right to sell his share in the label Roc-A-Fella Records, he has no right to sell the album, whether as an NFT or any other token.

Source: Barandbench

RELATED ARTICLES
- Advertisment -

Most Popular

Recent Comments