Have you ever had an idea and wondered if it could be life changing or the next big thing?
The answer is probably yes. Inventors or not, we all have ideas and wonder if they are original and profitable.
But, like most people, you probably thought “I don’t know where to start looking”, or “sure someone has thought of it”, or “probably too expensive and time consuming to research” and end up giving or, worse, forgot about it.
This is where LOCI (“lo-key”) wants to make a difference. LOCI’s intellectual property (IP) tools aims to facilitate the searching, protection and selling of anyone's ideas.
The problem
A Patent Agent is the current traditional method of researching an idea, which is quite an outdated and manual process that incur in the following issues:
● Patent searches can cost more than $2,500, regardless of the result
● Patent attorneys offer no protection for your idea / invention
● Patent agents don’t offer invention guidance
● Limited to the patent agent ability
The mission
LOCI’s mission is to become the gold standard platform for inventors and their ideas.
LOCI allows users to protect and sell their ideas faster and cheaper than traditional methods.
Like eBay, it will also serve as a marketplace so anyone can buy, sell or exchange their IP’s.
LOCI offers two core products: LOCI Search and LOCI Invention Analysis.
LOCI Search is a FREE (with paid features) patented Venn diagram IP search tool.
LOCI Invention Analysis helps determine the originality and demand of your ideas before having to apply for patents. LOCI Score guides inventors on how to move forward with their inventions. This analysis provides feedback on how to tune the idea to increase its uniqueness, novelty, and thus, likelihood of patentability.
Once you are confident with your idea then you can provisionally patent it via the LOCI platform, as well as stake it on the Ethereum Blockchain (for an immutable, undisputable timestamp of the staked idea).
Then you, the inventor, can take the idea through any or all the below three paths:
● Through LOCI’s Marketplace, you can just sell your idea so someone else takes it further without you having to spend time or money seeking a full patent.
● Use the “LOCI Score” to seek potential buyers as a good score during LOCI Invention Analysis helps “open doors”.
● Seek a full patent through LOCI’s discounted rates of vetted patent attorneys.
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How does it work?
Let’s imagine a case scenario:
You have an idea but you cannot afford a full patent search or you are afraid to expose your idea, for fear of getting it stolen, so you go to locisearch.com to securely input your idea and find out its uniqueness and demand.
Then you use the feedback to tweak your idea to achieve an optimal LOCI Score.
After that, you apply for a provisional patent and stake the idea on the Ethereum Network, with just a few click. Now your idea is safe and you own its intellectual property (IP).
Finally, you can share your idea on the LOCI Marketplace, or seek buyers with the LOCI Score, or apply for a full patent.
Advantages
Unlike traditional methods like a Patent Agent, LOCI’s platform offers:
● Low cost
Starts with FREE searches with LOCI Search so no need to pay over $2,500.
● Blockchain protection
Blockchain tech allows you to protect the IP of your idea with an immutable record.
● Less roadblocks
More than just search. You can determine the novelty and demand of your idea.
● Ease of use
It’s far easier to see the results of your idea search through LOCI Search tool.
● LOCI Invention Analysis
Machine learning tool that provides a novelty and demand score for patent potential evaluation. No need to be dependable on an agent ability.
The token
LOCIcoin, LOCI’s ERC20 utility token, is an essential part of the LOCI Nexus ecosystem for the buying and selling of intellectual property.
Other LOCIcoin use cases:
- LOCIsearch subscription to unlock advanced features of the LOCI Search platform.
- Stake ownership of an idea / invention on the Ethereum blockchain.
- Place bids to purchase IP’s on the LOCI Marketplace.
It’s unclear to us why Ethereum couldn’t have been used, or fiat even, but having your own tokens is basically just a way to raise funds to build platforms these days, and it seems many investors are ok with that, so hey, who am I to complain.
Partners
LOCI has already 8 partnerships with names as Waltonchain, Upchannel/Spire and Lexit.
Waltonchain seeked LOCI’s support and its platform IP tools to help Waltonchain create more revolutionary inventions.
UpChannel, one of world’s largest dApps marketplace, has added LOCI to its marketplace due to concerns of intellectual property and rights of their users creations / inventions.
Lexit, a marketplace for IP’s and more, and LOCI will work together within the intellectual property and to develop a global blockchain ecosystem to conduct IP trades.
Conclusion
The team lacks some big names and relevant experience, there is some significant competition from established companies in the space, but unchallenged in the blockchain space. Making this project quite unique in that regard.
LOCI approach to IP and its solution make sense as they are important to allow anyone to become an inventor or explore their ideas much easily and at a much lower cost.
So, do you still have that idea? If yes, then go to locisearch.com and start searching for FREE.