Topic: PATENTICO Platform: Tockenisation of intellectual property via blockchain (Read 90 times)

Intellectual property can be defined as a right of an individual to their own creation.

In recent years the number of applications for the grant of patents and the registration of trademarks and industrial designs has been growing and reached record highs. Patenting, which is the registration of intellectual property is a very important tool for the protection of intangible assets. Obtaining a patent is a long & expensive procedure and has a limited period of validity. For patent authors, there are important problems: how to find the necessary investor, manufacturer or marketing mechanisms. Because of this 70% of patents received by individuals are forgotten by their owners after the third year of operation.

Often there is no adequate means for authors to catalogue their inventions and ownership can be hard to prove. Blockchain technology can be used for the purpose of storage, protection, management, confidential sharing and transfer of intellectual property. Authors can store an encrypted document on a distributed blockchain registry, representing a digital certificate of authenticity. Access to the encrypted data can only be available to its authors & other authorised parties. This ensures an immutable evidence of ownership and a chronological recording of transactions performed on the object. The Patentico platform will complement traditional forms of registration and protection of intellectual property rights by offering proof of authorship through a secure form of digital publication.

The blockchain IP objects can be used as more reliable full-fledged legally significant documents. Using Smart contracts in the sale & licensing of intellectual property objects can automate associated regulatory & business operation. Users can make payments for the use of inventions directly to the owner, without the use of third party institutions.

A system of marks & ratings on the Patentico platform, will be used as an objective assessment of experts for the demand for IP on a variety of indicators. This ensures a well-deserved reward, transparency and public control over inventions. The platform will run on PTO tokens where the holders will receive part of the profit from the realisation of projects. These PTO tokens being the Patentico ecosystem's internal currency, for performing various actions on the platform: Payment of services within the platform, expert evaluation of IP, technical solution for the development of smart-contracts. PTO Tokens will be easily convertible to other cryptocurrencies as well as fiat money on regulated token exchanges.
 
Each IP author recieves a preallocated amount of tokens based on the objective assessment of experts & voting of the community. Investors purchase the PTO tokens from the author of intellectual property, thereby investing fiat funds in the author’s IP. The investor can either sell the received tokens or wait for the project to be implemented, where after the realisation of the project, the investor will receive the profit in the form of dividents. Authors cannot trade their preallocated tokens, as will be stipulated in the smart contracts. Also, the author of the IP, after the launch of the project and its payback will be obliged to return the sum of invested funds in double the amount, this amount will be credited as profit to all holders of PTO tokens. With each successfully realised project the value of tokens will increase. The platform will help inventors to get recognition, monetize their IP and create new opportunities for investors by supporting the development of new inventions. Instead of simply trading digital assets, the platform would enable trading of tokenised intellectual property.

The Patentico platform will create a fundamentally new format for the activity of patent offices. OECD countries account for more than 90% of world trade in intellectual property, and more than 150 other countries account for about 10%, with more than 100 of them do not participate in the international exchange of licenses. The idea is to create an international partner network, which will include leading patent offices and legal companies of foreign countries helping to implement complex protection and expanding the geography of intellectual property.

The entire Patentico ecosystem will bring together authors of patents, producers , experts in IP, science, research & various fields, investors & organisations engaged in IP & copyright. Thus creating an open, reliable and convenient platform for successful international commercialisation of Intellectual Property.

Website: Patentico.io