LOCI Information and Overview
The process through which inventors create and investors fund an idea to bring it to market is fundamentally flawed. Large sums of money are wasted on inefficient processes required to bring an invention to market, largely due to convoluted legal requirements that must be adhered to in order to protect intellectual property.
Loci’s goal is to streamline this process by providing a decentralized platform that enables inventors to promote their ideas and inventions to those who have the capital and the interest to back such ideas.
By storing intellectual property on the blockchain, the inventor automatically acquires proof of concept so they can release ideas to the public without fear of others wrongfully attempting to claim ownership.
Although there are a variety of tools on the market to search for new inventions, most are outdated, difficult to use and do not provide additional information or support required to bring a new invention to market. According to Loci, its new InnVenn visual mapping and search tool is significantly more effective than its four top competitors Evalueserves Treparel, Innogrpahy, Mapegy and Intelliixir.
How Does InnVenn Work?
Using InnVenn investors are able to search for new ideas, inventors on the other hand, may search and lay claim to any technologies that may infringe on their proprietary rights.
In addition to providing a platform to find and fund inventions, the system is able to uncover opportunities that may have been overlooked by human eyes. By identifying areas where there is room for development, areas known as “Whitespaces”, InnVenn can revolutionize and accelerate the creation of new technologies, products and services. For example, if someone invented a handheld medical scanner in 2000 and later in 2007 the smart phone is created, InnVenn’s algorithms would be able to match the two technologies and uncover the opportunity to incorporate them.
In essence, InnVenn links inventors with investors, but in a similar way to how the algorithms can uncover whitespaces for development, it also has the ability to pool together funds from like minded investors wishing to develop similar technologies. And by utilizing the blockchain to develop the system, Loci’s InnVenn platform can provide equal opportunities to access the information and contact the necessary parties required to develop innovation.
Real World Applications of Loci’s InnVenn Platform
What problems does InnVenn solve?
Global intellectual property laws a responsible for a highly chaotic landscape in which inventions are bought and sold. Requirements to file a patent are strict, and the current laws, recently changed from the First to Invent (FTI) to the First Inventor To File (FITF), favour larger organisations with the funds to cover the high legal fees required to apply.
On average patent applications can range between $10,000 to $50,000, and that’s without any guarantee the patent will be approved. The current system also lacks transparency, which means an applicant has no idea during the 12–16 month processing period, if their invention infringes on any other prior art, a discovery that can cost the inventor everything should that be found to be the case.
With these regulations, inventors on a tight budget are often beaten in the approval process losing their rights to ownership in the process.
Loci have built an expansive database drawing from vast array of information and resources provided directly by the inventors. Storing this information on the blockchain automatically time stamps the entry for whilst giving the inventor proof of concept right. The idea is then made accessible to others searching for related technologies using InnVenn.
Leveraging the blockchain to store such information acts as an automatic filing of ‘Public Disclosure’, from which the inventor has 6 month — 12-month period (depending on the country) to file a patent, locks out others from seeking rights to the invention. The platform also enables better communication between the client and attorney and will greatly increase the application process.
Technology behind InnVenn
The system’s proprietary machine learning engine analyzes research trends in and identifies whitespaces, or gaps in the market, and as the platform begins to grow, so too will the number of these whitespace opportunities.
InnVenn is designed to work in conjunction with current patent processes and procedures without the use of blockchain technology. As global patent processes change, the blockchain integration will become key to the development of investment pools process and IP marketplaces, and users will have many incentives to utilize the blockchain utility mechanisms.
The platform will utilize LOCIcoin Tokens, tied to the Ethereum blockchain, to facilitate the creation, buying and selling of intellectual property. As a result the tokens could become the standard valuation metric of all IP.
To support the development of the platform Loci is creating an online marketplace similar to Ebay where users can sell or purchase IPs for the development of new products. An app, dubbed the DApp, is also being developed to display data in an easy to read format, and allow users to place bids for any IPs listed within the InnVenn system.
Search results are displayed in an easy-to-read Venn diagram that clearly displays the different branches related to the IP in question and how these related fields overlap one another. The multilayered diagram allows for a wide range of information to be displayed. By providing information to users in such a way, it becomes possible to physically visualise the connection between two ideas, without having to analyse long lists and strings of data.
Valuable Information
Coin Name : Loci Coin (LOCI)
Total Supply : — 100,000,000 LOCI
Circulating Supply : —
Pre Ico Price : — 1 LOCICOIN = 0.44 USD
Ico Price : — 1 LOCI = 0.75 USD
Tokens/Money Raised Through ICO : — $7,376,751 OF $19,000,000 (39%)
Who Benefits From Loci’s InnVenn Platform?
Loci’s new platform provides the opportunity to quickly and efficiently search for IP whilst protecting the parties involved from infringements on copyright laws until the registration is complete. In doing so, the InnVenn platform offers benefits to all those involved bringing an invention to the market.
The primary client base includes IP attorneys, enterprise IP managers, business strategists, investors, inventors, entrepreneurs, patent researchers, and patent offices, however the opensource and decentrailsed architecture of the platform means that anyone with a good idea can benefit form using the InnVenn system.
Providing a streamline, more efficient method of developing inventions, InnVenn serves to avoid expensive attorney fess, assist with early research, provide real-time verification on the validity of an idea, visualise gaps in the market, and assist with communication between all parties involved.
The platform has already shown much promise. The USPTO, the official United States Patent and Trademark office, has stated that it views the platform as a public data base of patents, products, and ideas; a statement that legitimizes the system significantly as a location for public disclosure.
Staff / Team Info
Name : John Wise
Title : CEO
Bio : — John brings a very diverse background to the Loci team. For more than 15 years he worked as a mechanic, crew chief, data engineer, and team manager for some of the top teams in American racing.
LinkedIn : — https://www.linkedin.com/in/john-wise-14939858/
Name : Brian Hwang
Title : Director of Operations
Bio : — Brian has a diverse experience and expertise in the areas of strategic partnerships, business development, and operations to the team. He is an alumnus of University of Illinois at Urbana-Champaign with dual B.S. degrees in Finance and Accountancy. He has worked in a wide range of large companies and industries including Johnson & Johnson, GE Capital, and Ernst & Young.
LinkedIn : — https://www.linkedin.com/in/brian-hwang-191a053/
Name : Eric Ross
Title : Director of Technology
Bio : — Eric was a software developer for more than 10 years and worked for a wide variety of companies and utilizing various technologies as a consultant. He has a B.S. in applied physics/computers from Grove City College.
LinkedIn : — https://www.linkedin.com/in/ericsross/
Name : Harjit Singh
Title : Lead Developer
Name : Nivas Narayanasamy
Title : Developer
Name : Hudson Burgess
Title : Developer
Name : Abdelal Ali
Title : Developer
Name : Dan Emmons
Title : Blockchain/Solidity Developer
Name : Sean Brizendine
Title : Blockchain Specialist
Name : Lauren Arevalo
Title : Content Marketing Manager
Name : Zaimah Khan
Title : Digital Marketing Manager
Name : Jesse Lucas
Title : Marketing & PR
Name : Kelly Weaver
Title : Marketing & PR
Name : Jesse Johnson
Title : Asia Team Lead
Name : Klajdi Ciraku
Title : Community Manager
Name : Jasmeen Saini
Title : QA Analyst
Name : Claire Naumann
Title : Executive Assistant
Name : Charlie Kiser
Title : Advisor
Bio : — Blockchain and Cryptocurrency Expert and Entrepreneur.
Name : Carl Grant III
Title : Advisor
Bio : — Carl Grant III is EVP, Business Development for Cooley and he is known as a super-connector in the entrepreneurial ecosystem and a trusted advisor to CEOs.
Name : Bryan Feinberg
Title : Advisor
Bio : — With a background in Venture Capital, Capital Raising & Structuring, Brian currently serves on the ICO certification board to help improve ICC standards for ICO issuers that apply for Financial Commission’s ICO certification service.
Name : Brett Berlin
Title : Advisor
Bio : — As a founding member of the ISOC-DC chapter of the Internet Society, Brett is focused on Internet policy, as a member of IEEE-USA Policy Advisory Committees, and of NIST standards working groups (cloud and big data).
Name : David Drake
Title : Advisor
Bio : — David is the Chairman of LDJ Capital, a family office; Victoria Partners, LDJ Real Estate Group; Drake Hospitality Group; and, The Soho Loft Media Group. LDJ Capital’s extended network of funds and hedge funds manages 1.5 trillion USD in assets. David previously represented the US Commerce Department at the EU and he spoke at the UK Parliament.
LinkedIn : — https://www.linkedin.com/in/ldjcapital/
Name : Tony Sousa
Title : Advisor
Bio : — CEO of Sierra Wealth Development, with experience in business structure, private placement, capital acquisition and hi-tech financing. He has a background in entrepreneurial technology and is a leader in sales and marketing.
Name : Michael Brunner
Title : Advisor
Bio : — Dr Michael J Brunner received his B.S. from the University of Wisconsin and his Doctor of Pharmacy from the University of Iowa. He is leading efforts to transform the pharmaceutical and healthcare industry using the principles and innovations of blockchain technology. Dr. Brunner is currently the CEO and Founder of BlockMedx.
Name : Chris Berlin
Title : Advisor
Name : William Schrader
Title : Advisor
Name : Matt McKibbin
Title : Advisor
Name : Richard Titus
Title : Advisor
Social Media and Contact
URL : — https://www.facebook.com/Loci.InnVenn/
Likes : 1,897 likes and 2,013 followers
How Many Posts / Updates In The Last 7 Days : 1 post
URL : — https://twitter.com/loci_io
Followers :6229 followers
How Many Tweets / Retweets In The Last 7 Days : 2 posts
Telegram
URL : — https://t.me/Loci_InnVenn
Users : 3 030 members
Company Address :
Sterling, VA, USA