Law Commons^™

The Limits Of Smart Contracts, Jens Frankenreiter

Ira M. Millstein Center for Global Markets and Corporate Ownership

This essay investigates the potential of smart contracts to replace the legal system as an infrastructure for transactions. It argues that (contract) law remains relevant for most transactions even if they are entirely structured by way of smart contract. The reason for this is that the power of smart contracts to create and enforce obligations against attempts by the legal system to thwart their execution is limited. These limitations are most relevant for obligations to perform certain actions outside the blockchain, but also apply to other obligations contingent on facts outside the records stored on the blockchain.

Authorship In The Age Of The Conducer, Erez Reuveni

Erez Reuveni

The age of centralized information production is over. Today, countless creative enterprises involve decentralized collaboration by hundreds of end-users. Yet, the Copyright Act's last major revision occurred over thirty years ago, when a centralized, corporate model of production was the primary means of delivering information products on a mass-market scale. This Article contends that several features of the Copyright Act, remnants of this earlier corporate-driven era, are outmoded and fail to offer optimal incentives for the decentralized, non-profit-driven model of creative production utilized by many in the software and information-production fields. Specifically, the Copyright Act assumes creativity stems from the …

Open Source, Free Software And Contractual Issues, Jose Javier González De Alaiza

ExpressO

“Free software” is an increasingly used form to license computer programs, which on the one hand gives users the rights to use, modify and redistribute the program; and, on the other, forces any person redistributing an original or modified version of the program to license it with the same rights. Such a forced obligation is introduced through the so called “copyleft clause” and, basically, uses Copyright in a creative way to achieve freedom instead of control.

This paper discusses the “free software” foundations and contractual issues. The discussion is structured in two main parts and Conclusion. In Part II, the …

Reconstructing The Software License, Michael J. Madison

Articles

This article analyzes the legitimacy of the software license as a institution of governance for computer programs. The question of the open source license is used as a starting point. Having conducted a broader inquiry into the several possible bases for the legitimacy of software licensing in general, the article argues that none of the grounds on which software licensing in general rests are sound. With respect to open source software in particular, the article concludes that achieving a legitimate institutional form for the goals that open source proponents have set for themselves may require looking beyond licensing as such.