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Digital Assets, a presentation to the legal community


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Digital Assets, a presentation to the legal community

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