ALEXANDRIA, Va., Oct. 8 -- United States Patent no. 12,437,033, issued on Oct. 7.
"Smart contracts for licensing" was invented by Ramkumar Chandrasekharan (San Francisco), Nathaniel G. McKervey (Tallahassee, Fla.), Kishore Reddy Ramasayam (San Francisco) and Antoine Toulme (San Francisco).
According to the abstract* released by the U.S. Patent & Trademark Office: "A smart licensing system deploys smart contracts on distributed ledgers. The smart contract includes data regarding a software as a service ("SaaS") provider that will provide services to the holder of the smart contract, a type of the service that will be provided, a quantity of the services that will be provided, conditions to be met when transferring the smart contract to ano...