A utility token is a digital token, typically used within a blockchain or distributed ledger technology platform, that provides access to a product or service. Unlike security tokens, a utility token does not represent a stake or ownership in a company and therefore does not typically have profit sharing or voting rights. The legal classification of Utility Tokens in Germany is subject to various evaluation aspects and depends on the specific application. In general, Utility Tokens are not considered financial instruments within the meaning of the German Banking Act (KWG) or securities within the meaning of the German Securities Act (WpHG). However, there may be instances where a Utility Token may potentially be classified as a financial instrument or security, particularly if the Token has certain characteristics of a security. In such cases, approval or registration with the German Federal Financial Supervisory Authority (BaFin) may be required. To ensure that your particular project and the associated utility tokens are handled correctly from a legal perspective, I recommend that you contact attorney Marian Härtel directly for assistance. During a free brief consultation, he can give you an initial assessment and point out possible steps to take. You can reach attorney Härtel via the contact options on his website. Please note that this is only a general assessment and it is difficult to fully evaluate your facts without all relevant information.

A consulting agreement must generally contain the essential elements of the contract agreed upon by the parties. In the field of IT/IP law or when advising on the focal points you have mentioned, the following points are particularly relevant: 1. contracting parties: The identification of the contracting parties, i.e., consultant and client, including addresses and legal form, if applicable. 2. service description: a precise description of the consulting service that the consultant is to provide is important (e.g. consulting on software development, blockchain applications, etc.). 3. remuneration: the amount of remuneration, as well as payment terms and payment deadlines should be clearly regulated. 4. contract term and termination provisions: The period of the consulting activity and possible notice periods should be recorded. 5. liability: a provision on the liability of the consultant, in particular in the case of negligent conduct, is recommended (e.g. upper liability limits or exclusions of liability). 6. secrecy and data protection: secrecy obligations as well as compliance with data protection provisions according to the GDPR (e.g. Art. 28 GDPR) should be regulated. 7. copyright: regulations on the transfer or licensing of copyright-protected services should be included (e.g. in accordance with § 31 UrhG). 8. final provisions: Provisions on the place of jurisdiction, applicable law and any written form requirements complete the contract. Please note that this list is not exhaustive and other aspects may be considered. An individual review and drafting of the consulting agreement by attorney Marian Härtel is recommended in order to make legally secure arrangements. Take advantage of the free initial consultation to discuss your problem and receive a fair price for creating a customized consulting contract. Write to Attorney Härtel using the contact options on the website for a comprehensive consultation.