The 7th edition of Hong Kong’s premier IP gathering, the Business of Intellectual Property Forum (BIP) was attended by LOCI December 7-8. The two day conference saw leaders from public policy and private industry come together to discuss the latest trends and challenges facing intellectual property.
Innovating Our Way to Solutions
The event’s timing and our message couldn’t have been more well-aligned. As global trade tensions force intellectual property into the spotlight, LOCI stands ready with new solutions that go beyond the typical carrots and sticks.
Both of our products, LOCI Search and LOCI Invention Analysis, are built to make developing and protecting ideas accessible for anyone. We are building completely new solutions, independent from the current patent process’ status quo. Users can easily search global patent databases, analyze their ideas via machine learning, and then protect them using blockchain technology.
Our “Principle of Accessibility” extends to our coming marketplace as well. Soon, LOCI users will be able to buy and sell intellectual property all without the traditional intermediaries. How? By leveraging the products we have already developed and incorporating smart contracts allowing users to seamlessly arrange their royalty streams and other deal structures. The result is an economy based on innovation.
Tariffs and subsidies, threats and treats, these are the “fixes” of the past, but look where that has got us. By dramatically reducing frictions, LOCI is offering the world a new approach. When it becomes easier to purchase IP, when pricing becomes far more dynamic, the need to steal it goes away.
We’ve already seen this with another IP-based segment of our economy: the music industry. As a metaphor, we can see China playing the role of Napster, upsetting the traditional rules protecting Western IP. Where is the IP equivalent to Spotify, offering a better experience for all parties while still protecting creators? It’s right here, it’s LOCI.
Delivering the Good News
Our message at Hong Kong’s BIP Forum was well received for good reason. It’s not just the inventors who appreciate our products. Early adopters across the spectrum stand to benefit from joining us and helping us to build this new economic model.
IP law firms are looking to improve efficiencies. When demonstrated, they quickly see the apparent benefits of including LOCI’s product suite into their workflows. By joining our innovation economy, they stand only to gain clients, expand their messaging, and open themselves to new opportunities.
Accelerators and coworking spaces were well represented at the co-located Smart Business Conference. We made sure to connect with them as well and the feedback was extremely positive. Their competition is increasing greatly and the most successful spaces are the ones finding ways to add the most value to their startups. LOCI’s current web suite of LOCI Search and LOCI Invention Analysis is easy to implement and will quickly benefit our new partners in Asia.
Bridging the West and China
On August 1, 2018, LOCI announced the incorporation of China’s patent database into our software, completing our global reach. Today our users can freely search the US, Europe, and China’s IP databases. While in Hong Kong, we were happy to let the cat out of the bag… LOCI will soon be launching a Chinese user interface for our search and analysis products! US and China debates rage while LOCI moves forward with the bilingual tools needed in order to bridge these challenges.
The troubles facing trade and the archaic patent process will only be solved by making it easy for all to engage in the patent process. LOCI is opening the door to intriguing new possibilities for inventors and investors alike; from Washington, DC to Hong Kong and Beijing.
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 an 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, sign up for the latest updates above or visit our website here.
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