Loci.
Loci’s mission is to change the way we all innovate and the value of ideas as a whole. We aim to become the gold standard platform that will empower inventors and promote the effective matchmaking of ideas, capital, and talent.
The mission encompasses the improvement of:
- the invention process so that inventors can better find and protect their ideas;
- the development of commercialization vehicles for development or licensing of ideas;
- the incentivizing mechanisms and social networks to make development easier; and
- the improvement of the deal flow network to speed investment in worthy startups.
Loci’s Unique Solution.
John Wise, the founder of Loci, experienced problems with the patent process first-hand during his tenure as an engineer and felt like the whole patent system should be fundamentally altered. In 2008, John and Dennis Van Dusen, first theorized the idea of “Fuzzy Concept Mapping”, the core of Loci’s platform. This concept revolutionizes one of the most difficult aspects of the patent process, discovering novel ideas that have not already been patented. After nearly a decade of devoting research, effort, and money, US Patent U S9461876, “System and Method for Fuzzy Concept Mapping, Voting Ontology Crowd Sourcing, and Technology Prediction,” was granted.
Loci’s platform goes beyond search to help inventors stake their claims by acting as blockchain-integrated public disclosure platform. It has the effect of moving the inventor closer to an application and assisting a patent attorney by providing a starting point for understanding and a prior art search. Publicly disclosing with sufficient specificity also locks out others from the invention. This sets the time, in several but certainly not all countries, for the start of the one-year window for filing a non-provisional patent application without loss of rights.
Loci’s InnVenn currently is a document search tool that provides results in a user-friendly Venn Diagram rather than the long list format produced on other platforms. InnVenn tracks search results and enhances the user’s control over their process for differentiating relevant prior art from others. Users may gain information in this process to narrow their claims to something that can be granted. In the process a user may well find and write a definition of a new idea, and InnVenn provides the capability to record the new idea. Relevance mechanisms, including cluster and concept based searching, improve the efficiency of the user, reducing the drudgery of deeply analyzing the thousands of results that inventors or patent attorneys sometimes sift through before novelty can be determined.
Integrating with blockchain technology gives InnVenn immutable data containing a time stamp basis regarding when a concept was stated and when it was first disclosed to the public by the inventor. This disclosure is recorded on the blockchain, which begins a 12 month grace period for filing a patent. In general, Loci is intent on speeding the patent process and the use of blockchain technology offers a solution, but with the First- to-File rule, only getting that application to a patent office can get a priority date set. InnVenn does provide a much faster process of moving from idea to application by improving the communication between client and attorney. Loci’s patented machine learning technologies may improve the categorization for ideation, even predicting and prompting potentially relevant connections between different known and the client’s here-to-for unknown idea. As the volume of searches increases, the system becomes more effective and valuable.
Website: https://locipro.com/
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