In July 2018, LOCI released a powerful new tool that allows inventors and everyday people to determine exactly how novel or unique their ideas actually are. We call this tool Invention Analysis (IA). It is powered by patented machine learning and allows people to refine their ideas without having to spend thousands of dollars consulting with patent attorneys. The coolest part about IA is that it actually produces a score indicative of novelty for the user, along with some other really helpful data to help inventors determine next steps in their innovation process. Since we are a creative bunch and always like to apply our technology to our own lives and interests, we have decided to run a series of some of the most popular or impactful projects’ whitepapers through our IA to see how they stack up in the realm of novelty. The first, of course, had to be the BTC Satoshi whitepaper. We were impressed with what we learned.
To start the analysis, we copied and pasted the Satoshi whitepaper (October 2008) verbatim into a new project form within the LOCI Platform as represented in Figure 1 below. The LOCI Platform leads users through the system step-by-step, so it’s really simple to use. Once all of the sections of the document were input, with the simple click of the orange “Analyze” button, we were on our way to getting back loads of data on the novelty of Satoshi’s whitepaper, along with loads of other related data. (We were also secretly hoping it would confirm Satoshi is female.) Running an analysis takes a few minutes, and this whitepaper was no exception.
Figure 1: Inputting the Satoshi whitepaper into LOCI’s Invention Analysis form to run an analysis for novelty.
When the analysis was complete, we were pleased to see the comprehensive results and data sets, and the first piece of data was the LOCI Score represented in Figure 2 below. The LOCI Score gives a numerical value that indicates novelty or uniqueness of a user’s idea. A higher score means the idea is more unique, which implies its novel in the patent landscape. Interestingly enough, a score nearing 100 may not actually be good for the user as it indicates that an idea is so novel that it would be near impossible to create; therefore, scores around the range of 70-89 are really the sweet spot. We were pretty thrilled that Satoshi’s whitepaper received a solid score of 74. Considering the Satoshi paper came out nearly ten years ago in October 2008 and there have been so many other advancements in technology since that time, this novelty score is very impressive to say the least. Indeed, the foundation of BTC has withstood the test of novelty over time.
Figure 2: After the analysis has been submitted and run, the user is presented with a LOCI Score that indicates novelty, among other comprehensive data to help inventors determine whether their ideas are worth pursuing.
Along with a LOCI Score, another critical piece of LOCI’s Invention Analysis report is the Top Related Documents. These documents are culled from literally MILLIONS of patents and publications from a global database, then run through our patented machine learning system, and the user is presented with a list of the most highly relevant patents. The relevance is represented by a percentage which is useful in determining which of these patents can serve as prior art for an inventor – an essential step in proving that an idea is worthy of patenting and possesses intrinsic value as intellectual property (IP). And in order for inventors to conduct the most thorough research on the surrounding IP landscape, each document listed links to the full patent, so inventors can get every last detail to facilitate their research.
In the case of the Satoshi whitepaper, the majority of the top related documents (or patents) displayed pertain to network security, distributed systems, and proof of work. The beauty and power in our system is that users are often presented with information they wouldn’t expect or hadn’t previously considered. For example, as referenced in Figure 2 above, the first related patent pertaining to mining was fairly obvious, but the second and third top related patents on ‘Preventing network denial of service attacks…’ and ‘Predicting attacks based on Probabilistic Game Theory’ may come as more of a surprise.
Figure 3: Keywords and Classification Codes are also presented in the analysis report.
The next section is Keywords as indicated in Figure 3 above. Below the Related Documents, two sets of keywords are displayed for the user. The first set displays words found in the user’s stake and the second shows words that are NOT found in the user’s stake. The larger the size of the text indicates a greater frequency of occurrence. This second set of keywords presents words or topics that can be found in patents similar to the user’s. Reviewing the second set of keywords can encourage new angles and perspective to an inventor.
Under the Keywords section we see Top Classifications, known as CPC’s. The chart in this section identifies where in the international taxonomic classification system landscape the user’s stake will best fit. This area is incredibly insightful for inventors because similar to the keywords, this presents another opportunity, through machine learning, for an inventor to rethink his or her invention and determine other areas of application for the idea. Based on the results presented here above in Figure 3, we can see that the applications of Satoshi’s ideas are still widely useful and could likely contribute to future innovation. Take for example CPC H04W84/18, about midway down the list, which is about “self organizing networks such as ad-hoc or sensor networks.” This may seem like a bit of a stretch to some people, but to others it may beg the question if techniques coming from AI applied to dynamically organizing the networks can improve the experience or performance or open up new applications of the blockchain and cryptocurrencies. Perhaps someone out there who is quite knowledgeable on the topics is on the cusp of this discovery. It is precisely this type of “aha” moment LOCI wishes to deliver to platform users and to the community at-large.
In conclusion, through Invention Analysis, the uniqueness and therefore novelty of an idea is portrayed as succinctly as possible with just one number – the LOCI Score. The Top Related Documents shows in order the most similar patents in that domain’s landscape, which lends itself to conducting more research such as competitor analysis or opportunity discovery. The missing keywords summarize what other topics are discussed in the documents that are not present in the paper, and the top CPC’s show where in the patent world the paper best fits. Ultimately, we are pleased with how the Satoshi whitepaper performed through our system and feel that the brilliance of BTC is given its justice through its LOCI Score of 74. In the coming weeks, we look forward to running more analyses on popular whitepapers and sharing those results with our community.
More about LOCI Invention Analysis:
LOCI Invention Analysis helps new inventors determine the novelty and demand for their ideas before they spend money trying to patent. This is a huge cost savings of about 95% compared to traditional patent attorney searches. LOCI Invention Analysis can also help guide inventors toward “white space” where there are relatively few existing patents, where demand is high, so the inventor has the best possible chance of being awarded a patent, and/or selling their idea. Inventors can submit multiple iterations to help refine their idea and identify alternative applications of their invention. The ultimate goal of the inventor while using Invention Analysis is to achieve a optimal “LOCI Score” which indicates that their idea is unique, and in high demand.
More about LOCI
LOCI’s mission is to disrupt the global patent industry, and to change the way the world invents and values ideas. We specialize in simplifying the patent search process by utilizing unique visualizations and providing comprehensive analysis to help determine the novelty and demand of an idea. To further understand the landscape of IP and learn more about LOCI, visit here.
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