Reston, Virginia, July 18, 2017 — The current process of searching and filing patents is convoluted, making it nearly impossible for new inventors to secure patents for their creations. Entrepreneurs who cannot afford to spend $15,000+ on attorney fees are forced to either give up their great ideas or riskily proceed without patent protection.
Loci.io, established in 2015, has developed InnVenn, a visual searching tool for patents. InnVenn was specifically designed to simplify the process of identifying patents, providing entrepreneurs with a clear idea of what has and has not been patented.
InnVenn offers superior comprehensiveness to existing patent searching applications and services. Patent attorneys can use InnVenn to offer the highest quality understanding of the intellectual property landscape to their clients, providing real-time data to get the most out of your patent search and registration.
Loci has already developed InnVenn, but they are currently working to incorporate cutting edge blockchain technology into the platform. Search data will be logged into the digital ledger, which empowers the original researcher or inventor with the ability to acquire a 1 year right to exclusively patent that technology. InnVenn is the first patent platform that grants the searcher the same legal rights as an individual that files an Intent-to-Use patent application. Loci CEO, John Wise, discusses both his excitement for the launch, and the current necessity of this technology, “We have been developing Loci’s technology for almost a decade. Not only will it provide for a more efficient and user-friendly way to search for patents, but it will change the way we can invent and invest long term.”
Loci will be the first fully funded company with a working product and sales in the product they are tokenizing to embark on a token sale, will be launching on August 10th. To stay updated, you can either join Loci’s Slack, or follow along on Twitter.
For media inquiries, please contact Jesse Lucas at Melrose PR Jesse@melrosepr.com or call (310) 260-7901.
Loci, a leader in DIY patent research, is built on patented technology nearly a decade in the making. Loci is applying its search engine to a decentralized database for patent research, discovery, and licensing. The company uses a combination of intuitive user interfaces, machine learning, and blockchain technology to optimize this process. Loci will hold the first token sale with an already established product. Their company profile video can be viewed here on YouTube.