- “Is commercial use allowed?” - true/false (bool)
- “Is the license transferrable?” - true/false (bool)
- “If commercial, what % of royalty do I receive?” - number
Programmable IP License (PIL)
Learn about the first implementation of a License Template
PIL Smart Contract
View the smart contract for the PIL.
License Template Requirements
License Templates are responsible for:- Providing a link to the actual, off-chain, legal contract template, with all the parameters, their possible values, and the correspondent legalese, in
licenseTextUrl
.- For a licensing framework to be compatible with Story, the legal text must be clear and parametrized, with each licensing parameter establishing the possible outcomes of each value.
- The parameter values in each License Template (called “License Template terms”) drive the legal text for each license agreement.
- Defining a
struct
with the particular definitions of the parameters in accordance, which must be encoded into the License Terms struct (described below). - Providing registration methods for the License Terms, and getters.
- Verifying that both the minter and the address linking a derivative are allowed by the License Template terms to perform those actions.
- These conditions could be enforced by the License Template itself or through hooks. They can range from limitations on the derivative creations, token-gating LNFT holders, creative control from licensors, KYC, etc. It’s up to the implementation of each License Template.
- Verifying that the License Terms are compatible if a derivative has or will have multiple parents