Published on June 2nd, 2018 | by Diogo Costa0
Racing Industry Experiences Drove the Inception of this IP Company
John Wise was an automotive engineer who, along with his colleagues, experienced the same scenario over and over on the job: they developed new products at a rapid pace, sometimes throughout the same day. But the majority of these products were not getting patented, mostly because of the tedious process is involved.
Whenever someone wants to apply for a patent, there is an extensive process involved, which requires all existing patents to be researched to make sure that specific patent does not overlap an existing one. But, as one might expect, that is a hard process to undertake, due to the number of existing patents.
With this in mind, Wise went ahead and created his own company to help with these situations. Loci, as it is named, is a platform for intellectual property discovery, creation, and exchange. Being built on top of several new and interesting technologies, such as blockchain and machine learning, its platform manages to highly improve this process.
One of the most important parts of this improvement is LOCIsearch, the company’s proprietary IP platform which, as Wise envisioned when creating Loci, gives a helping hand to entrepreneurs to take their inventions out to the market, not having to go through the previously horrendous process of patent searching.
Last March, Loci partnered with GMG Racing for the 2018 Pirelli World Challenge Grand Prix of Texas, where Wise’s company sponsored the car driven by the 22-year-old pilot Alec Udell who, despite his young age, has experience in this championship. So, it can be said that it was a “return to the roots” for Wise, who commented:
“Alec is an impressive guy who is a hell of a driver. He represents the people we are focused on collaborating with because he is an aspiring engineer and innovator.”
One of Loci’s goals is to get LOCIsearch to be used within the racing world, where the patent search is mostly done by the people who come up with the innovations. An improved way for that industry to do this, like the one Loci offers, would seriously impact the pace at which innovations appear and get set in the market.