What is and isn't LOCI?Last Updated: January 14, 2019
What is LOCI?
LOCI is the future of innovation and intellectual property. LOCI is a tech company founded with one goal in mind – to change the way the world invents and values ideas. Built upon Aristotelian theory that property may be private but should serve as a benefit to the common good, not just serve to benefit a privileged few, and the belief that we, as humans, think better together, LOCI has set out to build a space for these theories to become practice and to put power back into the hands of inventors.
The first question any inventor asks is whether their invention has been invented before. LOCI's software, LOCI Search, allows innovators to perform their own prior art patent searches to help determine whether their ideas are novel. With LOCI Search, inventors can dig deeper and conduct more efficient compound searches easily. Once an inventor has determined that their idea is novel, if the inventor chooses, he or she can stake their innovation to the Ethereum blockchain through LOCI Search. Doing this allows the inventor to publicly disclose their idea and show global ownership through an immutable smart contract. At this point, an inventor can then begin the filing process for a patent (inventors will have 12 months under US rules) or instead decide to monetize their invention before going through the patent process. Alternatively, inventors can also choose to only post and abstract and only allow others to view their invention after entering into an NDA.
In this way, LOCI reduces the barrier to entry for innovation and provides a marketplace for intellectual property that the world has never seen before. LOCI and LOCI Search is a place where people can invent, search, stake and ultimately sell their ideas.
What isn't LOCI?
LOCI is not a patent filing company, though our system does facilitate the process by allowing inventors to export their searches directly to attorneys to serve as prior art. LOCI also does not provide legal counsel regarding patent law to its LOCI Search users. Users of our system are encouraged to seek legal counsel when making decisions on how to proceed with their inventions. LOCI is also not an exchange nor is its cryptocurrency LOCIcoin (LOCI) a security. It is strictly a utility token for use in the LOCI Search system. LOCI is not necessarily a ‘crypto’ startup as our company and software were in the making long before its use of blockchain or a token came to be.