Currently, software licenses and other rights to intellectual property are managed and transferred using a large number of proprietary systems, or even old-fashioned paperwork. It can be difficult or even impossible to ascertain the ownership of certain intellectual property. In the US, you automatically own any IP you create; however, this ownership is not recorded anywhere. It is possible to register your ownership, but it's far from effortless. A blockchain-powered IP system would enable sites such as YouTube, DeviantArt, and ModelMayhem to create the ability to automatically register works on behalf of their users. Once registered, those same sites could assist users in seamlessly issuing and revoking licenses. Such a scheme would require the cooperation of these large internet sites, but this would not be the first time such a thing has happened; many of the technical underpinnings of the web were created through industry consortiums looking to increase efficiency and interoperability throughout the industry.