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Our Clients' Successes

“Harris Sliwoski expertly guided us through the formation of our company. They continue to assist with necessary registrations and compliance with numerous regulations. They were able to promptly answer all our many questions and provide understandable options, explanations and practical advice. We expect to continue to use Harris Sliwoski on a regular basis as our company expands. They were also able to introduce us other professional experts. We would not hesitate to recommend Harris Sliwoski to any companies in need of legal advice.”

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user icon Three Continents Foods LLC

This law firm was a huge help as our company went through the process of commercial licensing in the California cannabis industry.  They have helped us with a variety of legal issues in a timely fashion, while clearly communicating with us throughout the process.  Everyone we’ve worked with at Harris Sliwoski is an expert in their field and we have always felt that we were in good hands through our legal representation.

user icon Wil Crummer, CEO PRO Farms

Frequently Asked Questions

What Are the Legal Challenges of Web3?

Web3 technology is changing the digital landscape. Each benefit it offers comes with a range of unprecedented capabilities and circumstances with few concrete legal guidelines to follow. As Web3 grows, numerous legal challenges will become more apparent and require businesses to seek protection from agile legal firms. Current and predicted legal challenges revolve around areas like:

  • Data privacy and security: Web3 utilizes a decentralized system where entire networks of computers store data. This approach eliminates a central point of vulnerability, but the databases are often publically visible. Businesses using a decentralized data storage system will have difficulty abiding by privacy laws and regulations.
  • Intellectual property: The decentralized nature of Web3 will make it more difficult for businesses and creatives to protect trademarks, patents, copyrights and other intellectual property. Intellectual property rights laws must evolve to match new vulnerabilities, and businesses will need to adapt to operate within those new laws.
  • Central authority and governance: Decentralized virtual environments lack authority figures that uphold laws and regulations. Without an agency enforcing laws in decentralized spaces, businesses using Web3 could be vulnerable to illegal activity. Many disputes will go unresolved, so businesses must find ways to defend themselves.

What Are Web3 Assets?

A Web3 asset is any digital good that utilizes blockchain technology. These assets are decentralized, so regulations around them are currently nonexistent. As a result, a Web3 asset can take many forms. Common Web3 assets include cryptocurrencies, music, digital art, non-fungible tokens and virtual real estate. Businesses can use the creative flexibility that Web3 offers to create various assets that open new avenues for customer engagement.

Is Cryptocurrency Legal in the United States?

Cryptocurrency is legal in the United States. However, Web3 and blockchain technology are new, and the market needs time to catch up. Banks currently do not accept cryptocurrency and likely will not until more regulations emerge. The best way to trade cryptocurrency today is to register with an exchange service where you can purchase cryptocurrency in exchange for standard currency.