How LOCI Fits In

LOCI is not the USPTO and is not affiliated with the USPTO. LOCI uses its unique solutions to help inventors develop and monetize their patentable innovations.

With that, we offer inventors a few options. LOCI utilizes the Ethereum blockchain. When fully implemented, these features will allow inventors to track and better value and monetize their inventions. While LOCI's marketplace and blockchain technology also work well with patented inventions, one of LOCI's advantages is that inventors can enter the marketplace even before spending thousands on patents.

We have put together options, as well as pros and cons in accordance with our understanding of applicable laws for inventors. However, we cannot warrant the accuracy or completeness of our list below. Inventors are encouraged to seek counsel. Posting on LOCI's blockchain cannot and does not substitute filings with patent offices.

Abstract

You post an abstract that you believe will not allow a person having ordinary skill in the arts (someone in the field) to replicate your invention and anybody who wishes to view it has to sign a confidentiality agreement (“NDA”). If done properly, this posting should not be considered a disclosure under US patent laws. See above about what is a public disclosure.

Pros

  • Under the laws of most nations, your patent rights internationally should generally be preserved.
  • Your 12-month grace period is not triggered. You need a disclosure to start the 12-month period. Since there is no disclosure, the period is not triggered.

Cons

  • Since this is not considered a disclosure, the inventor does not get the statutory disclosure protections which would prevent someone else from filing a substantially identical patent. Additionally, the inventor’s invention will not count as prior art against other patents and prior art disclosures by others will count against the inventor until the inventor makes a public disclosure, files for a provisional patent or files for a patent.
  • We are now a first-to-file (or disclose) country, so if someone else files for a patent, the inventor may lose his or her patent rights.
  • You may inadvertently disclose too much and trigger the 12-month grace period. But if you do, you will receive protections listed under LOCIdisclose.

Disclose

This allows you to post a publication or disclosure that you believe will allow a person having ordinary skill in the arts to replicate your invention. This posting will be considered a disclosure under US patent laws.

Pros

  • You will have statutory protection under patent law against people who file or disclose substantially identical patents or disclosures after your disclosure.
  • Your disclosure will count as prior art against future filers and prevent people from claiming your specific invention.
  • Third-party prior art filed after your disclosure date will not count as prior art for substantially identical matters.
  • All of this will be done within the price of your LOCI subscription.

Cons

  • Must file a patent within 12 months in the US (6 months in certain countries) to maintain patent rights. See list of countries that recognize disclosures.
  • Some countries do not recognize prior disclosures and you may lose your ability to obtain a patent in some countries.
  • You may inadvertently not disclose enough.

Provisional Patent

Using LOCI's form, you can walk through the provisional patent application. LOCI is working on matching its community with patent agents and patent lawyers to help with the filing process.

Pros

  • Preserve the priority date for a patent.
  • Most other countries recognize provisional patents and their disclosure would not impact your ability to file a patent in such countries (but protections may be lost in a few countries).

Cons

  • Must file a patent within 12 months in the US to maintain patent rights.
  • The description of your invention in a provisional patent must be as complete as a normal patent application.

File Patent with Patent Office

Pros

  • Receive full protection.

Cons

  • Costs approximately $2,750 to over $15,000 to just file and takes considerable time to put together.
  • Must also file in other countries to get international protections (administrative filing fee is $3,500 for PCT – currently 152 countries are members of PCT).

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