Loci’s ICO process has started, securing your patents with Blockchain. While the state of the patent industry may seem drained for some, patent litigation is a headache from small businesses to giant corporations.. Patent hoarders continue to have a say in the industry as intellectual property fees soar and mega-corporations focus on the shape and function of devices.. The current situation and these fundamental problems can harm new entrepreneurs.. Fortunately, former auto racing engineer John Wise and Blockchain developers are actively working to solve these problems.
Loci aims to provide inventors and entrepreneurs with revolutionary new ways to protect their products and ideas. is a technology company committed to. The company that created its own cryptocurrency will be able to validate what its patent-searching users are doing, and will be able to supplement some of the traditional procedural cost with legal advice and licensing. working. Coming from the “high-octane world” of automotive engineering, seeing inventors and creative engineers disenfranchised by the patent process, Wise realized that many of the best ideas were lost and not implemented.. “These jobs, which are often expensive and laborious, sometimes cost hundreds of thousands of dollars,” he said in a statement.. And once money is spent, there is no guarantee of intellectual property.. The old patent industry has made almost no progress in a hundred years. The documentation process can take up to seven years; It’s obvious why so many products contain the phrase “Patent pending”.
For example, imagine you are a software engineer who has found a line of code that could disrupt the entire operation of Facebook.. Right now you have to pay huge sums to lawyers who will investigate whether the idea is really new and patentable.. Even if you try to save money by doing all this yourself, it will be an exorbitant waste of time.. Brian Hwang, COO of Loci, points out that the “America’s Inventions Act” prioritizes the first to document a patent and the transparency issue that occurs an average of 16 months before documents are released.. As a result, people are hastily trying to document their patents.. For this reason, patents can be weakened and invalidated; face serious legal fees that must be paid. In some cases, even if the filing and patent process is successfully completed, a file opened by someone else a few months ago to patent the idea may emerge.. Hwang also thinks that the current system is deterring ordinary people from the idea of patenting their big ideas.
Loci’s InnVenn platform simplifies patent research by graphing the idea/product owner’s keywords in a Venn Diagram. InnVenn also uses artificial intelligence learning so that 2.1 million US patents can be included in every chart created, meaning it can be trained by users.. Loci is challenging this by entering the market with a product that already works and a clearer vision of how to scale and implement its plans.. Time will tell if they can achieve their goals, but it’s definitely a company worth watching.
ICO Opportunities Continue
Loci’s December 2017 While the net price of the first round will be determined as $0.33 in token sales to be made over four rounds in , this amount will increase to $0.75 in the fourth round.. The base rate is $2.50 per round.
Tokens will be distributed as follows: Of the total 100 million LOCI coins, 50% are backers, 34% are for purchasing Patents and rewarding platform users, 11% and will be spent on the team, consultants and partners.. The remaining 5% will form a non-profit fund.
Loci’s token sales will run from December 6 to 31, or until the $19 million hard cap is reached.
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For More Detailed Information :
Web: https://locipro.com/
White Paper: https: //locipro.com/wp-content/uploads/2017/12/loci-full-whitepaper.pdf
Telegram: https://t.me/Loci_InnVenn
E-Mail: [email protected]
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