Legal considerations for physical artworks:
1) Copyright: All artworks are safeguarded by copyright laws. Unauthorized reproduction, distribution, or public display of the artwork is strictly prohibited and can lead to legal action.
2) Ownership: The artist retains ownership and copyright of the artwork, even after it's sold. Buyers acquire the physical artwork but do not gain rights to reproduce or distribute it (except NFT version).
3) Limited Editions: Limited edition artworks have a defined number of prints available.
4) Authenticity: Each artwork should be accompanied by a certificate of authenticity, personally signed by both artist. This certificate establishes the artwork's origin and attests to its value.
5) Commissioned Works: Contracts for commissioned artworks should comprehensively outline payment terms, project timeline, usage rights, and any provisions for revisions.
6) Public Display: Artworks might be exhibited publicly, such as in galleries or exhibitions.
7) Derivative Works: The artists reserve the right to create derivative digital or physical works based on the artwork, such as adaptations or modifications.
8) Indemnification: Buyers should be aware that they might need to indemnify the artist against any legal claims that may arise from the display, distribution, or usage of the artwork.
Legal considerations for digital artworks (Non-Fungible Tokens):
1) Ownership and Copyright: NFTs represent ownership of digital assets. However, ownership of the NFT doesn't automatically grant copyright to the underlying artwork. Artists retain copyright unless explicitly transferred.
2) Smart Contracts: NFTs are typically created and managed through smart contracts on blockchain platforms. Review and understand the terms of the smart contract, including royalties and usage rights.
3) Royalties: Some NFT platforms allow artists to receive royalties each time the NFT is resold. Clarify the percentage and terms of these royalties within the NFT's smart contract.
4) Derivative Works: The artists reserve the right to create derivative digital or physical works based on the artwork, such as adaptations or modifications.
5) Provenance and Authenticity: The blockchain ledger provides a transparent record of ownership and provenance, enhancing the authenticity of the artwork. Ensure the NFT is accurately linked to the original creation.