An interview with John Wise CEO of Loci, a leader in DIY patent research that is branching out to a distributed database for patent research, discovery, and licensing. Outside of Loci, the patenting process is long and costly, but Loci uses a combination of intuitive user interfaces, machine learning, and blockchain technology to optimize this process. Loci’s InnVenn, a visual searching tool for patents, was designed to simplify the process of identifying patents and more importantly, ideas that have not been patented yet.
- John’s background as an auto-racing engineer led him to witness many inventions, and also how frustrating the process of patenting is.
- The current patent system is so convoluted, if one wants to file a patent, they must either spend thousands of dollars on a lawyer, or is legally obligated to read tens of thousands of patents to ensure their idea is has not yet been patented. This makes it extremely difficult for individuals to protect their intellectual property.
- Loci’s product, InnVenn, was designed to simplify the process of identifying patents and more importantly, ideas that have not been patented yet.
- Loci’s pre-sale is happening now through the end of the month, for accredited investors only. Loci’s token sale launches in October.
Loci will be the first fully funded company with a working product and sales (in the product they are tokenizing) to embark on a token sale.
“As a clarification and redaction, Loci inc. has no immediate intentions to register as an investment bank and thus cannot offer securities or equities of any of the investment pools. Loci is legally bound to selling inventions or investment pools in totality to a third-party. If that third party is a registered bank or registered offerer of securities, then IT can offer securities stemming from that investment pool. NOT LOCI.”
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