SME LAW
But it is not easy to legislate the VR world given that it is a huge domain that exists globally and is subject to different laws per region. Moreover, a rigid legislation law might also come in the way of proper technological evolution. Self-regulation by VR companies seems to be the only solution at the moment. There are also some measures that companies can take regarding VR regulation.
1. Define Liabilities: IP holders must very clearly define liability in their contract. They must specifically state the ownership and liability that might arise in case of a breach or an unfair use of property rights.
2. Self-Regulation: As stated above, self-regulation is something that companies can resort to. VR solution providers can also take part in creating industry friendly policies and take steps in formulating strategies that are both legally and ethically sound to deal with any kind of infringement.
3. Misuse of ‘Fair Use Standard’: People in VR business must try to raise the misuse of the ‘fair use standard’ issue. The ‘Fair use standard’ has always been misused and the future does not seem to be any different.
Creating awareness about the loopholes in the VR world would lead to a solution. Entrepreneurs who want to join the VR bandwagon must work towards this end to create a VR world where privacy n infringement of Intellectual Property are not mere terms but enforceable laws. The business world would not exist without technology. Technology would evolve in the future. It is wise for industry people to start looking at making this partnership a lawful one while it is still possible. Join hands and work towards creating a future where the VR world thrives with the security of legal protection.
SPI thinktank
Intelligent SME | April 2018
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