UNDERSTANDING YOUR INTELLECTUAL PROPERTY (IP)

SO YOU OWN A DRUG RECEIPTS DIGITAL TOKEN, NOW WHAT?

You can do pretty much whatever you want with your Drug Receipts Digital Tokens (aka NFTs) as long as you follow a few simple guidelines:

You CANNOT use the Drug Receipts name, brand, likeness, logo, custom fonts or any of our trademarked IP (Intellectual Property).
You CANNOT claim that Drug Receipts (or any team members, stakeholders, or related parties) endorse your brand/product without express written consent—do not use any images, video footage, written copy or otherwise with commercial intent (for example using some old skate footage of Arlo to promote your brand), unless you have written permission from Drug Receipts.
You CANNOT use your Drug Receipts Tokens or related IP to create hateful, hurtful, or harmful material, or anything that is dramatically at odds with our brand values.
You are responsible for licensing and managing your own IP, including what will happen when your Digital Token is transferred or sold.

Owning a Drug Receipts Digital Token (aka NFT) means you have a non-exclusive licensing agreement for that Intellectual Property (see below). Whatever you decide to do with your IP, is really up to you. You can keep it simple and print your digital art on a t-shirt or coffee cup or even create a high quality print to hang on your wall. Or, you can take it as far as your imagination will let you by creating an entire brand using your Token’s IP. Some examples of this can already be seen in other Web3 projects like Bored Ape Yacht Club where NFT holders have used their IP to create derivative businesses like the BAYC inspired restaurants, Bored Taco and Bored and Hungry.

As long as you stay within the bounds of fair play there is no limit to what you can create with your Drug Receipts IP. As a quick and useful guide for whether something is permissible or not you can always ask yourself these two questions: Will my creation be confused with the Drug Receipts brand? Will my creation reflect negatively back on the Drug Receipts brand? Do not modify or alter your Drug Receipts NFTs in a way that may damage our reputation or bring the Drug Receipts brand under negative scrutiny. Provided you aren’t using any of our trademarked IP, what you do with your Drug Receipts Token is really up to you. And we can’t wait to see what you come up with!

WHAT INTELLECTUAL PROPERTY (IP) DO I OWN?

When you purchase and hold a Drug Receipts NFT, you are granted a non-exclusive licensing agreement that entitles you to all of the IP associated with that Digital Token. Non-exclusive just means that Drug Receipts also retains the right to use any of the NFT art at our discretion. No one else may use your protected IP. If you review the Drug Inspector, you can download your artwork and associated assets easily and in very high resolution. Essentially, you own the following:

The unique Digital Token (NFT) as it appears in your wallet.
The unique components that make up your Digital Token such as the unique configuration of the character and the traits it possesses.
You have commercial rights to utilize common components in your Digital Token—such as the background, and individual traits, like the knife or the umbrella.
Individual traits and backgrounds feature across many Digital Tokens in the Drug Receipts collection, so although you have commercial rights to utilize these elements you do not have exclusive rights to them. You cannot prohibit anyone else from using shared elements.

WHAT IS AN IP LICENSE?

An IP license is a contract where the IP owner (licensor) permits someone else (the licensee) to use, but not own, certain IP assets under agreed terms and conditions. A non-exclusive license is where the IP owner can grant more than one license and can use the IP themselves. In many cases the IP owner is paid royalties for lending their IP. Common terms include a time limitation and restriction on geographic areas or territories. You must own or control the copyright of your work. In our case, that means you need to hold the NFT underlying the IP you are licensing.

WHAT IS A TRADEMARK?

You may create a brand using your Drug Receipts NFTs as images or graphics for the brand. You may trademark the brand and own it under restricted IP. You will need to register the mark in any geographic territory (including worldwide) where you intend to operate.

CONCLUSION

Essentially, you control the commercial rights of the Drug Receipts Digital Tokens you own. You can do whatever you want with this IP, within reason, and will also benefit from the hard work we are doing to build the Drug Receipts brand and the value of any IP associated with it. If you decide to create your own brand or leverage your Drug Receipts NFT IP for a commercial project, just make sure you protect it properly and keep it safe. We really recommend you contact an IP lawyer to ensure you set yourself up properly and maximize the value of your IP.

Oh and don’t forget to let us know what you create!

We reserve the right to modify and change any of this at our sole and absolute discretion.