Patent liquidity is based on the ability to transact the patent and to carry out business with it. The first step in any transaction (business or personal) is transparency, knowing that you are dealing with the actual/rightful owner. When you buy something you would like to know from whom you buy. That is why businesses spend so much money on their Corporate Identity. So what people need is transparency in every aspect of our daily life. Transparency is honesty, clarity and it allows us to move all relationships forward.
In the patent asset class, there is no transparency. If you look at today's patents you will see how many errors occur and out dated records there are. Do a patent search on the following website and you will see what a centralized mess it is http://patft.uspto.gov. Look at the assignee and try to make contact, the owner details with the patent record will need the assistance of a patent attorney to do that for you.
Another problem with patent liquidity is what the patent covers. Even for experts, the understanding of the underlying patent information is a challenge. Only very expensive tools can help you to have access to that information. Just to determine what specific aspect of technology the patent covers, is expensive and complicated.
How the Blockchain can help to create transparency and visibility to liquidity Patents.
The traditional patent registries are just a simple search to view the patent, the owner and where he is - no other information. With the blockchain, it is possible to go a few steps further.
Owner verification: you will know who the actual patent owner is. Potential transactors will now know that they are dealing with the owner.
The next level can be contact information: this will allow you to have visibility regarding the patent owner and contact details.
Furthermore, the next level is to facilitate interaction between the patent owner and potential transactor. This transaction can be conducted on the entire platform, saving everyone time and money.For more advice please feel free to contact me on 081 269 3916 - for a Consultation. Pieter Lategan