CopyForward
Name: Jeff Livesay
Company: CopyForward Inc.
Email: jefflivesay@copyforward.com
Management
Jeff Livesay
Chief Executive Officer
Rick Leander
Chief Financial Officer
Michael Blanton
Chief Technology Officer
Natalie Scarritt
Director, Market Development
Conrad Ruiz
Director, Customer Experience
Iris Cole
Arts Sector and Diversity Advisor
Key Advisors/Board Members
Rob Reyenga
James Bellefeuil
David Evans
Doug Young
Franz Ehrhardt
Industry
IP development and licensing for distributed ledger applications
Year Founded
2021
Number of Employees
Full Time: 1
Part Time: 9
Current Investors
Pre-seed funds: $120,000
NC IDEA grant: $50,000
Monthly Burn Rate
Under $15,000
Financing Sought
Seed: $1,500,000 SAFE
15% discount
$10M conversion cap
Use of Funds
40% Research & Development
35% Sales & Marketing
25% Operations
Business Description
We are an IP development company licensing our patented technology to companies transferring physical, digital, real, or intellectual property with any encumbrances such as royalties using a ledger. Our IP also covers recording proof of authenticity and provenance in ways that are secure, immutable, and unimpeachable.
Company Background
Jeff Livesay began developing AI software in 1977. Discovering that legislated Artist Resale Royalty Rights for future royalties were not available in the U.S., Jeff invented CopyForward. As an engineer and serial entrepreneur, Jeff invented CopyForward to help creators and collectors earn future royalties, preserve provenance, and record authenticity.
Problem/Solution
In our economy, creators benefit the least from increases in asset values. Without an undisputed chain of custody an asset can be worthless, as forgeries constitute up to 50% of collectible asset sales. Our patented system solves these problems using secure, immutable ledgers to record transfers with permanent contractual terms.
Products/Services
CopyForward licenses its patented technology to creators and exchanges in market sectors including fine art, sneakers, sports, music, and movie memorabilia, and NFTs. Resale royalties are in increasing demand and combating fraud improves market opportunities for creators. Each license is appropriate to the sector and licensee.
Technologies/Special Know-how
Our patent, US 11,514,410 B1, “Method and System for Recording Forward Royalties Using a Distributed Ledger” covers recording transfers of personal, real, or intellectual property with any encumbrances, whether financial or non-financial, along with title or certificate of authenticity, using any distributed ledger. Published November 29, 2022.
Markets
Global collectibles may reach $591B by 2026. For fine art, the TAM is $30B, the SAM is $13B, and the projected SOM is $116M. Other TAMS include trading cards $10B+, sneakers, $24B+, and memorabilia for movies: $28B+, sports $15B+, music $7B+.
Competition
There are no competitors to CopyForward’s patent, but there are enforcement prospects for licenses that include Arcual, Fairchain, Artory, and Verisart in fine art, Nike, StockX, and GOAT in sneakers, OpenSea in NFTs, and many companies in other sectors.
Business Model and Distribution Channels
Our licenses are multimillion, multi-year, and can include royalties to CopyForward. Our business developers pursue licensing opportunities in each market sector through our existing network and sector insiders.