Digital Assets, a presentation to the legal community

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  • 1. Who will tend to your farm(ville) after you’re dead? Feed me
  • 2. Property values are Changing digital analog AGE: 20 30 40 50 6 0
  • 3. Online Market Source: AARP, Pew Internet & Facebook 2010 Internet use is growing fastest in 50+ age group. Seniors are concerned with privacy and security, which tends to limit the scope of use. 40 75 93 30-50 40 65 Population 5 20 Facebook 15 46 Online 65+ 50-64 US Age
  • 4. Digital Property Summary
    • Intellectual
    • Personal & Legacy
    • Virtual Goods
    • Cultural
  • 5. Digital Property Types
    • Copyright
    • Original work as blogs, music, images, video
    • You own original content, but it’s located on servers that somebody else owns with access rights assigned only to you.
    • Trade Secrets - do you have an access procedure for all business documents (software, specs, formulas, etc.)?
  • 6. Digital Property Types
    • Personal
    • your email, online apps
    • online financial records
    • your stories, deeds, history
    • And perhaps content you do NOT want anyone to find after your death.
  • 7. Digital Property Types
    • Virtual Goods ($B market and growing)
    • Linden $, Facebook credits, WoW gold
    • What are the tax implications?
    • Can your Second life spouse inherit?
  • 8. Digital Property Types
    • Cultural
    • digital flotsam and jetsam of tweets and
    • comments for the future to ponder over.
    • e.g Library of Congress is archiving Twitter
  • 9. Early Market Leaders
    • LegacyLocker, San Francisco
    • “ OMG what if I died and my friends couldn’t update my Facebook page”.
    • Digital Funeral products & services
    • DVDs, Online Memorials
  • 10. Digital Asset Segments Storage Lifestory Health Legal Memorial Genealogy
  • 11. Asset Management Entities
  • 12. To be a person is to have a story to tell Isak Dinerson What happens to your stories if you don’t take steps to preserve them for the future?
  • 13. Business Model Content Creation Subscription service Perpetual Trust Read-only access Digital Executor Instructions?
  • 14. Summary
    • Major need for online policies for inheritance - who will take they lead?
    • Major opportunity for legal firms
    • Only ~33% of American have a living will.
    • Virtually everyone under 40 and most of those under 50 care about protecting their digital assets for the future.