June 2, 2020

June 01, 2020

Subscribe to Latest Legal News and Analysis

May 30, 2020

Subscribe to Latest Legal News and Analysis

Smart Contracts: Benefits, Legal Enforceability and Best Practices

The combination of smart contracts with blockchain technology has created new opportunities to conduct business, realize efficiencies and establish legally enforceable digital contracts. In this two-part video series, Proskauer’s Jeffrey Neuburger and Wai Choy share:

  • Part 1 (Smart Contracts: Benefits & Legal Enforceability): An overview of smart contracts and their uses cases, and the law regarding enforceability of computer code as legal contracts; and

  • Part 2 (Smart Contracts: Best Practices): Best practices they have developed for successfully and efficiently implementing smart contracts and coordinating any associated traditional contract.

For a more in-depth discussion of smart contracts, associated issues and best practices, please read Proskauer’s Practice Note titled Smart Contracts: Best Practices.

© 2020 Proskauer Rose LLP.

TRENDING LEGAL ANALYSIS


About this Author

Jeffrey D Neuburger, Proskauer Rose Law Firm, Technology Attorney
Partner

Jeffrey Neuburger is co-head of Proskauer’s Technology, Media & Telecommunications Group, head of the Firm’s Blockchain Group and a member of the Firm’s Privacy & Cybersecurity Group.

Jeff’s practice focuses on technology, media and intellectual property-related transactions, counseling and dispute resolution. That expertise, combined with his professional experience at General Electric and academic experience in computer science, makes him a leader in the field.

As one of the architects of the technology law...

212-969-3075
Wai Choy, Proskauer Law Firm, New York, Media and Entertainment Attorney
Associate

As a corporate associate in the Technology, Media & Telecommunications Group, Wai Choy focuses his practice on technology, media and intellectual property-related transactions and counseling in a wide range of fields, including the technology, entertainment, social and new media, advertising, e-commerce, retail and professional services industries.

For example, Wai structures, drafts, negotiates and advises clients on legal and business aspects of:

  • Service agreements, statements of work and service level agreements for a variety of services, including software as a service (SaaS) and other hosted services, data analytics, custom development of websites, software and content, systems integration and technology implementation, email and text message marketing, payment processing and outsourcing.
  • Advertising-related agreements spanning digital, radio and billboard media, including programmatic advertising platform agreements, lead generation service agreements, advertising reseller and affiliate agreements, insertion orders and advertising terms and conditions.
  • Software license agreements and other intellectual property license and assignment agreements, including for U.S. and international copyrights, trademarks, trade secrets and patents.
  • Collaboration agreements between strategic partners for the research, development, manufacturing and commercialization of new products and services, including in the virtual reality, augmented reality and motion simulation fields.
  • Video content production, license and distribution agreements covering various business models and distribution methods, including over-the-top (OTT), TV Everywhere, subscription video on demand (SVOD), advertising video on demand (AVOD), transactional video on demand (TVOD) and traditional linear subscription models, whether through the public Internet, IPTV, cable, satellite, broadcast or other technological means.
  • Revenue sharing, joint venture, equipment purchasing and other types of general commercial agreements.
  • Privacy policies, terms of use and end user license agreements for websites, mobile apps and other software. 

Wai also counsels clients regarding:

  • Blockchain and distributed ledger technology development, structuring and implementation, establishment of US-regulated cryptocurrency and token trading platforms, cryptocurrencies and initial coin offerings (ICOs) and associated legal issues.
  • Use of open source code under various permissive and copyleft licensing schemes, including structuring combinations of open source code with proprietary code.

While in law school, Wai worked in the Business & Legal Affairs departments of Marvel Studios in Los Angeles and Marvel Entertainment in New York on a variety of licensing, film and television production, merchandising and publishing matters. Wai also served as senior editor of the University of Pennsylvania Law Review and co-president of the Entertainment & Sports Law Society.

212-969-3118