LOCIcoin tokens are an integral asset to unlocking the full features and potential of the LOCIsearch platform. Here are the primary use cases.
Unlock the full power of the LOCIsearch platform. Live data, compound searching, saving result sets, claim creation, and so much more is available at your disposal when you have an upgraded subscription. Either use 100 LOCIcoin, or pay the normal price of $249/month.
Stake proof of public disclosure of an idea claim with one LOCIcoin on the Ethereum blockchain when another platform user views it on the LOCIsearch platform. The blockchain posting provides the immutable timestamp of when exactly the idea has been publicly disclosed. The immutable timestamp is crucial as the public disclosure grants the idea claim owner a 12 month grace period to file a patent.
Place bids to purchase IP that is on LOCIsearch platform including existing patents with LOCIcoin. This works similar to the how eBay functions by bidders placing their maximum bid on IP. For bids placed on ideas native to the platform Loci will analyze the value of the IP and reach out to the idea owner with the valuation at or below the maximum bid. For existing patents Loci will then reach out to the owner or agent on behalf of the bidder and connect the two parties if there is mutual interest. To be clear, Loci will not negotiate or broker bids for existing patents as Loci is not a patent agent.