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Metaverse and the Law

SKU: IP9200N
Total Credits
2.5 - 4
Price$200
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Description

Metaverse is the “new new” technology term. It does not refer to any specific emerging technology. It refers to the way these emerging technologies will interoperate to implement new efficiencies like autonomous driving and virtual adventures like augmented reality that combines aspects of the digital and physical worlds . The metaverse is the convergence of the physical and digital worlds The metaverse also translates to a digital economy involving decentralized autonomous organizations transacting in cryptocurrency and digital assets refactoring ownership in real and personal physical property. The new era of the metaverse will have implicate all aspects of our society, including our health, finance, entertainment, and the economy.

The metaverse will also have legal implications . For example, how do we handle intellectual property ownership involving artificial intelligence; can an AI system be named as an inventor on a patent? The metaverse could have virtual creations by avatars and AI aspects built into them. If such creations are deemed to be AI creations and not human creations, they may not be allowed certain types of intellectual property protection. Materials produced solely by nature, by plants, or by animals are not copyrightable The confrontation between computer code and law will reach an entirely new level in the metaverse. The metaverse could also pose issues for content owners, as monitoring copyright infringement will be near impossible in the metaverse.

For example, if consumer law is to effectively protect users from unfair or abusive practices in the metaverse, it will have to be able to access the commercial arrangements in which users transact in the metaverse happening entirely in the virtual world.

Transacting in digital assets will also mount a significant challenge to regulation in the metaverse. Non-fungible tokens (“NFTs”) are digital assets that represent ownership in a unique item or content. NFTs representing music or art, for instance, may involve royalty payments that are automated on the token being transferred between users. New laws and regulation will need to ensure that the ownership and transaction in NFTs can be enforceable as users attempt to evade enforceability based on their virtual location or identity settings.

Additionally, given that metaverse activity will emanates from individuals and businesses existing in the physical world, the computer code which implements the metaverse code may collide with the regulatory bodies. Existing laws will not always be able to address virtuality. New legislation developed by tech savvy attorneys will be needed. Laws and regulatory bodied that do not adapt to the challenges posed by the metaverse risk being displaced by governance provided by computer code. The question will be whether computer code or law will regulate conduct in the metaverse. The law must align with computer code or it will be replaced by computer code. With a cast of experts in this new emerging metaverse, we will be introducing and analyzing how the metaverse will change our lives and how lawyers can prepare themselves and their firms for this eventuality.

Lecturer Bios

Joseph J. Bambara, Esq.

Joseph J. Bambara is currently In House Counsel and a VP of technology architecture at UCNY, Inc. His e-mail address is jbambara@ucny.com. For the last 15 years, he has been acting as Counsel for small to mid-size technology firms in the metro area. Most recently, he has worked on cloud computing, social networking, mobile media and outsourcing contracts. He has done work with intellectual property especially as it pertains to mobile and enterprise software, SMS mobile marketing issues as well as trade/service marks. In addition to presentations at Lawline, he has done CLE’s on law and technology for New York County, the New York City Bar Association and National Constitution Center. Prior entrepreneurial career includes developing applications for the financial, brokerage, manufacturing, medical, and entertainment industries on the mobile and enterprise platforms.

Mr. Bambara has a Bachelor's and a Master's degree in Computer Science. He holds a Juris Doctorate in Law and is admitted to the New York State Bar. He has taught various computer courses for CCNY's School of Engineering. He is member of the New York County Lawyers Association Cyberspace Committee and an active member in the International Technology Law Association. He has authored the following books: Sun Certified Enterprise Architect for J2EE Study Guide (Exam 310-051) (McGraw-Hill, 2007), J2EE Unleashed (SAMS 2001), PowerBuilder: A Guide To Developing Client/Server Applications (McGraw-Hill, 1995), Informix: Client/Server Application Development (McGraw-Hill, 1997), Informix: Universal Data Option (McGraw-Hill, 1998), SQL Server Developer's Guide (IDG, 2000). He has taught numerous courses and given many presentations on all aspects of the law and enterprise and mobile development in cities worldwide, including Los Angeles, Vienna, Paris, Berlin, Orlando, Nashville, New York, Copenhagen, Oslo, and Stockholm.

M. Ridgway Barker, Esq.

Ridge is actively engaged in the full range of corporate and business legal and transactional matters, including debt financings, general corporate and securities matters, partnership transactions, public reporting, public and private securities offerings, recapitalization, spin-offs, stock and asset acquisitions, divestures, mergers and acquisitions, regulatory and compliance, corporate governance, capital markets (IPOs and other registered offerings, SPACs, Rule 144A/Regulation S offerings, asset securitizations and credit facilities), private equity and venture capital, equity and executive compensation, internal investigations, and corporate control litigation, among other areas. As a trusted advisor for small to medium-sized domestic and international public and private companies across a whole range of legal issues and business needs, he regularly represents clients on both highly complex, sensitive and confidential matters as well as routine day-to-day needs.

He also has broad experience in a variety of financial, accounting and supervisory roles involving corporate finance, corporate and strategic transactions and development activities, executive compensation, operations and corporate governance.

Ridge’s clients span a wide range of industries including telecommunications, technology, biotechnology, pharmaceuticals, chemicals, manufacturing, broker-dealer, investment advice and financial services and retail.

Ridge’s transactional work ranges from opportunity creation, investigation and development through structuring, analysis, negotiation, problem-solving, closing and post-transaction implementation. He uses total quality and project management concepts to maximize transaction values and minimize transaction costs.

Prior to joining Withers, Ridge was a Partner at Kelley Drye & Warren LLP, a New York- based international law firm, where he was the Chairman of the Corporate Finance & Securities Practice Group.

Shahryar Shaghaghi

Shahryar brings more than 30 years of experience in technology and risk management consulting, solutions/ frameworks development, and global implementations to his role as CTO. He is a recognized expert in IT risk management, cybersecurity, and data privacy, currently serving as the lead IT risk management faculty at Columbia University’s Enterprise Risk Management graduate program. Shahryar has held technology consulting leadership roles with Accenture, PwC, Deloitte, Kurt Salmon, BDO, and CohnReznick.

As the EVP of Citigroup’s global leader of IT Risk Management Implementations, he led and successfully delivered Citi’s largest and most complex information security programs to meet OCC and FRB requirements. Shahryar recently served as the Cybersecurity SME for FRBNY and is one of the authors of the SOC for Cybersecurity developed by the AICPA to help auditors identify cyber risks. For these contributions, Shahryar was named to the PrivSec200 list of influential professionals who have made significant contributions to the privacy and security sectors.

Adam Wandt, Esq.

Professor Wandt is an Assistant Professor of Public Policy and Vice Chair for Technology of the Department of Public Management at John Jay College of Criminal Justice. His primary research interests include technology law and policy, information security, academic technology, and UCR crime data.

He has worked on sponsored research for, or in partnership with the Federal Bureau of Investigation, The National Institute of Justice, Interpol, the United Nations, the United States Bureau of Justice, Sprint, BlackBoard, Entourage, as well as educational institutions from around the world.



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