IP Core Asset Library

This technology is the foundational element of Music Protocol, serving as the decentralised system for managing IP. It integrates complete data structures crucial for identifying and coordinating information across the network. Acting as the core settlement layer, it establishes the central directory for the ecosystem, ensuring that, in compliance with legal mandates and with the traditional music copyright framework, all music assets are accurately catalogued, involved entities are clearly identified, and all economic and legal relations are thoroughly managed. This provides a transparent, secure, and efficient way to manage intellectual property, facilitating collaboration, licensing, and royalty distribution. By establishing a reliable and verifiable record of ownership and usage rights, the Music Protocol empowers creators, rights holders, and consumers, promoting a vibrant and sustainable music ecosystem.

The central element within Music Protocol that enables the existence of an on-chain musical asset and its interaction within the ecosystem is called "IP Object".

The Music Protocol's IP Objects enable comprehensive management of musical assets and their associated rights.

An IP Object is a complex data structure comprising an "IP Core", one or more “Master Core” and "Attribute". Therefore, the IP Object represents the comprehensive set of on-chain valuable information for identifying a specific musical asset and the rights connected to it that are defined and managed on Music Protocol. Specifically:

1. IP Core: The IP Core is designed for cataloguing and registering a Music Works intellectual property on the blockchain. It combines fixed details like title and author names with variable data through standard and custom parameters related to the underlying asset identification and verification. For Music Work, these are musical or lyrical compositions subject to copyright, whose royalties are traditionally managed by territorial collection societies.

2. Master Core: The Master Core is designed for cataloguing and registering the intellectual property of a recorded master on the blockchain. It combines fixed details like title and author names with variable data through standard and custom parameters related to the underlying asset identification and verification. Several Master Cores can be attached to the same IP Core.

3. Attributes: The Attribute is a structure for the on-chain representation of legal rights tied to a Master Core, supporting licensing of distribution, use, or economic rights. It includes data for identifying involved parties, legal frameworks, and standard and custom parameters.