Loci – Platform for Intellectual Property Discovery & Mining
Loci is setting out to disrupt one of the most convoluted systems in our current structure, the management of patents, and intellectual property rights. Loci wants to change the way the world invents and value of ideas as a whole.
It all starts with an idea…
Ideas are bigger than one person. The creation process is a collaboration of intelligence from the collective consciousness across the globe. What if we had a way to pull these ideas together, and an easy way to search through the data submitted by hundreds to find similar patterns?
Roadblocks to Progress
Currently the patent system is bloated with legal road blocks. The collection of data is so vast and so completely disconnected, that much too much is wasted just on identifying whether an idea is unique or patentable.
InVenn is Locis’ key platform gateway to enable inventors and investors. The system builds on the founders vision to create a fairer and more equitable Intellectual Property platform that can help to speed and foster the invention process, rather than hindering it with legal complexity and expense.
Better Data, Efficient Mining
The first step is providing a robust search engine which can allow inventors to query the vast catalog of existing patents for similarities, and even complimenting ideas. This process alone can save hundreds if not thousands of hours of research.
Finding Hidden Opportunities
A key benefit to a fully functioning platform is to allow of the identification of “gaps” in the current intellectual property mapping. This can greatly aid the creative and invention process, by helping to steer ideas in directions to fill those gaps. InVenn will also save innovators money, lowering the barrier to entry into intellectual property protection by the reduction of countless hours of legal work. This in turn will help with building on existing ideas by augmenting existing patents to further progress, rather than expelling resources on attempting to “reinvent the wheel”.
The platform can take things even further, by creating the opportunity for investors to engage the process, even at very early stages. Investors can get behind ideas and new patents, or can seek out inventors and innovators that share in their same visions. Consortiums will serve as the grouping of ideas and inventions on InVenn platform. A consortium can facilitate the connections of technology to ideas.
Inventions and ideas need not be directly related. Platform algorithms can realize that the opportunity exists for the combination of idea to create new combined concepts that meet an existing market need. Investment Pools on the InVenn are then used to fund Consortiums. Investment pools can be focused to specific startups or application of technologies. They can be used to create various types of licensing deals within consortiums which will promote investment into new ideas, and can substantially lower the costs of R&D and licensing by pooling these resources together.
The fiscal barrier to entry for inventors is thus dramatically decreased when these resources are made available. Loci is also creating a non-profit organization which will be used for funding research and development in emerging markets. The organization will be managed by a Loci board members and governed by smart contracts.
A system long in need of improvement.
Loci has very strong leadership and advisory team, and has been engaged in movement to improve efficiency and transparency in the patent process for years. The Loci token sale will begin with a presale phase on December 6th, with a total of 30 million tokens being offered to the public.
Hear the passion behind the Loci project in our interview with John Wise, Founder and CEO:
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