Contract Terms in Startrail PORT is a contract between the issuer of a Startrail Registry Record (SRR) and the owner of the work and the SRR. This allows Contract Terms to set rules for the distribution, copyright, and safeguarding of the work, and the Contract Terms themselves can be recorded on the SRR, allowing the handling of the work to be preserved on the blockchain.
Ownership of a work and an SRR with Contract Terms in place constitutes the owner's agreement to the Contract Terms. At the same time, if the ownership of the work and SRR changes as a result of a sale or transfer, the new owner must be asked to agree to the Contract Terms and conditions as well as the transfer of the SRR.
*Currently attached as a PDF, Contract Terms are not automatically executed. In the future, we plan to implement a function that automatically executes the contents of the terms as a smart contract.
Who May Establish Contract Terms?
- The artist himself/herself
- Primary market operators who manage the artist’s works
※ Please obtain the artist's approval before setting up.