# In an op-ed, Professor Andrew Hinkes offers a proposed taxonomy to clarify the definitions of various tokenized securities

1 Faculty News February 9, 2019 ![CoinDesk logo](/sites/default/files/styles/246w/public/assets/images/coindesklogo192x144.jpg?itok=JirvmN30)>

Excerpt from [CoinDesk](https://www.coindesk.com/the-security-token-market-needs-better-lingo) -- "Unlike ICOs, which provided value as an arbitrage against regulation, which typically failed to provide legally required disclosures to purchasers, and which generally offered a future right to a product or service rights to their purchasers, tokenized securities will comply with the law, and at least initially, fall into one of a few categories or types. A clear understanding of those types and the rights provided to their buyers is critical to understand why tokenizing securities will improve their utility, features, and marketability."

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