Introduction to Utility Tokens and ICOs

Overview of Introduction to Utility Tokens and ICOs

Lawyers and legal advisors get a practical foundation here in how utility tokens and initial coin offerings (ICOs) function as mechanisms for blockchain-based fundraising. It examines the technical structure of utility tokens, how ICOs are designed and executed, and the regulatory landscape that governs—or seeks to govern—these activities. Participants will explore the central legal question of whether a given token constitutes a security, a utility, or something else entirely, and what that classification means for their clients. The course is designed to equip legal professionals with enough working knowledge to identify risks, ask the right questions, and provide informed counsel.

What you’ll learn in Introduction to Utility Tokens and ICOs

• Explain how utility tokens differ from security tokens and why the distinction carries significant legal consequences
• Describe the mechanics of an ICO, from token creation through distribution, and identify where legal exposure arises
• Apply key regulatory frameworks and classification tests to assess how a token offering might be treated by relevant authorities
• Identify the primary disclosure, compliance, and anti-fraud obligations that may attach to organizations conducting or advising on ICOs
• Recognize the contractual and governance documents commonly used in token offerings and evaluate their legal significance
• Advise clients on the questions they should be asking before participating in or launching a blockchain-based fundraising initiative

Curriculum

1. 1. Introduction

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Your instructor

Josh Lawler

Partner, Zuber Lawler

Josh Lawler is a partner at Zuber Lawler, where he leads the firm's Emerging Technologies Group. He advises on mergers and acquisitions, securities law, and intellectual property development and licensing, with a focus on blockchain and cryptocurrency, artificial intelligence, robotics and biotechnology, and he serves as outside general counsel to a number of companies. He previously practised corporate securities and M&A at Skadden, Arps, Slate, Meagher & Flom LLP. He holds a J.D. cum laude from Northwestern University School of Law and a bachelor's degree from Duke University, and is admitted in California. At Legal Cyber Academy he teaches on blockchain and cryptocurrency.