Fear of theft may be the most common reason that inventors are reluctant to share or publish their ideas. It’s a valid concern: ask who invented the telephone, and most people will answer “Alexander Graham Bell.”
In fact, a functioning telephone was first created in 1860 by the Italian inventor Antonio Meucci, who was unable to pay for a patent. Two years later, Bell took credit for the work, and Meucci became a footnote to history.
A Flawed System
In theory, patents exist to prevent incidents like these. They protect the right to defend ownership of intellectual property (IP), giving inventors legal recourse to prove they should rightfully be credited for their work. Unfortunately, the reality is far more complex and even more so when considering how the current system works in the US and globally.
To acquire a patent, inventors must first pay hefty legal fees. After that, bigger corporations often exploit loopholes in the law to steal IP whether it’s patented or not.
And that’s why we’re here: LOCI is striving to build a world where anyone can publish, sell, and license their ideas for an affordable price, without the fear of IP misappropriation or theft. We are dedicated to our inventors, and every step of the LOCI process is built for their success.
We Don’t Steal Your Ideas
Our vision as a company and partner would be destroyed if LOCI’s inventors did not retain full ownership and control over the ideas they submit to the LOCI blockchain, or the patents they file through our network of attorneys.
In short: there is no fine print. No “gotcha,” no catch and no tricks. LOCI does not steal its users’ work. Moreover, it cannot steal its users’ work, and does not need to.
Nobody Else Can Steal Your Ideas Either
The beauty behind LOCI’s approach to IP is that the risk of someone else stealing an inventor’s idea is virtually impossible due to the immutable nature of a blockchain ledger. Even when an idea is transferred or licensed to another entity, our cryptographically secured blockchain ensures that the author and all subsequent transactions are recorded and monitored for all time.
In many ways, blockchain is the most groundbreaking aspect of LOCI. Not only does it function so that owners are credited and compensated when their work is used, but it also creates a legally indisputable and global record of ownership.
We Don’t Profit from Your Ideas
Unlike some IP licensing entities, LOCI does not take any cut of the money generated by its users. Our business model is based on flat-rate payments for the services it provides.
LOCI views its users as partners in advancing innovation around the world. Part of our mission is to end IP theft by creating a system that is both easier and more economical than stealing.
For this reason, we hold the value of “ownership” high, and we’ve taken pains to do our best in ensuring that no creator will ever lose what they worked so hard to produce.
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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