Patents are usable in many beneficial ways, but exercising those rights is tedious and time consuming. There is a lack of technology to help patent owners improve efficiency and automation.
This is the total amount allocated to VERALIDITY đ„Patent Owner Licensing and Management Systemđ„đ.
Efficient blockchain-based patent tokenization for patent utilization enables owners to leverage assets, legitimize standing, engage stakeholders, foster innovation, and drive business growth.
We feel that there's no reason to reinvent the wheel so our solution will leverage Magento 2, an open-source platform maintained by Adobe, and will serve as our interface, seamlessly connecting with the Cardano blockchain. Leveraging Magento 2's robust framework, our custom modules integrate effortlessly, ensuring a secure, scalable, and customizable experience.
Our software employs a dual licensing strategy, encompassing both open-source and commercial licenses. Under the GNU General Public License (GPL), users may freely utilize, modify, and redistribute the software for open-source purposes, fostering community collaboration. Alternatively, our commercial license caters to businesses requiring confidentiality for modifications or proprietary integration. This approach ensures accessibility for community projects while enabling revenue generation from commercial use.
Our proposed solution is a Patent Owner Licensing and Management System built on the Cardano blockchain. Recognizing the challenge patent owners face in effectively utilizing their patents, we address this by leveraging blockchain technology for transparent and efficient patent management. This system aims to empower patent owners to showcase and monetize their patents, streamline licensing agreements, and ensure verifiable authorized use through smart contracts.
What sets our solution apart is its utilization of Cardano's blockchain, known for its scalability, security, and sustainability. By integrating Cardano, we ensure immutability and transparency in patent management, fostering trust among patent owners, licensees, and stakeholders. This solution benefits patent owners by providing a secure platform for monetization and engagement, while also incentivizing innovation and reducing patent trolling.
Our project will engage patent owners, inventors, businesses, and legal entities seeking to optimize patent utilization and streamline licensing processes. We will demonstrate our impact by showcasing successful patent monetization, increased engagement among patent stakeholders, and a reduction in patent-related disputes and inefficiencies.
This solution is important to Cardano as it showcases the platform's potential beyond traditional financial applications. By addressing real-world challenges in intellectual property management, we demonstrate Cardano's versatility and its ability to drive innovation and efficiency across various industries.
Our project aims to deliver proof of concept and basic prototyping for an innovative Cardano-based patent management system. By leveraging blockchain technology, and the power of Magento 2 as a framework, we will design a transparent and efficient platform for patent licensing and management. This early-stage idea showcases the potential of Cardano beyond traditional financial applications, fostering innovation and driving adoption within the ecosystem.
Veralidity's capability to deliver the project with high levels of trust and accountability stems from our extensive experience and proven track record in both the technical and legal aspects of the project.
Mitchell Robles Jr's expertise in Magento Open Source and Cardano, highlighted by his role as the sole technical reviewer for Packt Publishing's Magento 2 Developer's Guide, underscores our proficiency in blockchain integration within the eCommerce ecosystem. Veralidity's successful partnerships with Adobe, Mehen, and Charli3, along with the development of 16 custom modules/extensions seamlessly integrating Cardano into Adobe Commerce and Magento 2 Open Source, demonstrate our ability to deliver tangible results.
Charles Chasney's background as a seasoned attorney specializing in patent preparation and prosecution ensures that legal aspects of the project are meticulously addressed. His decade-long engineering experience in aviation and defense industries further enhances our team's ability to comprehend complex technical and legal intricacies, providing a well-rounded approach to problem-solving.
To validate the feasibility of our approach, we will conduct thorough technical and legal assessments, leveraging our expertise to identify potential challenges and mitigate risks. Additionally, we will engage in continuous communication with stakeholders, ensuring transparency and alignment throughout the project lifecycle.
Regarding fund management, we will implement stringent financial controls and reporting mechanisms to ensure proper allocation and utilization of funds. This includes regular audits, transparent financial reporting, and adherence to industry best practices. Our commitment to accountability and transparency is unwavering, and we will always uphold these principles.
You can watch some videos about some of the integrations that Veralidity has completed which seamlessly integrate Cardano with Adobe Commerce and Magento 2 Open Source, as well as an interview with Mitchell Robles Jr on Dapp Centrals YoutTube channel:
https://www.youtube.com/watch?v=Sk1N1lwbKJAhttps://www.youtube.com/watch?v=COfhMDdQ1hM&t=751shttps://www.youtube.com/watch?v=HldN49Y59SQhttps://www.youtube.com/watch?v=YE8Jjwxy0iM&t=720shttps://www.youtube.com/watch?v=L-b8n3r8HXQ&t=511sResearch and Planning
Development and Testing
Deployment and Pilot Phase
Project Close-out and Documentation
Mitchell Robles, Jr.
Charles Chasney
Matthew Olsen - (currently employed as a Software Engineer at Microsoft)
Jose Maldonado
Research and Planning:
Development and Testing:
Deployment and Pilot Phase:
Project Close-out and Documentation:
Total Budget Requested: 100,000 ADA
Additional Notes:
The cost of the project is justified by the comprehensive approach taken to ensure its success within the Cardano ecosystem. Each budget element has been meticulously assessed to align with industry standards and best practices in patent development and blockchain integration.
Investments in research, legal consultation, and project management are paramount for establishing a solid foundation and mitigating potential risks associated with patent management on the blockchain. These costs reflect the specialized expertise required to navigate legal frameworks and technical complexities effectively.
Similarly, expenses related to blockchain development, smart contract implementation, and user interface design are justified by the specialized skills and knowledge necessary to create a secure and user-friendly patent management system. These costs are competitive and commensurate with the value they bring to the project and its stakeholders.
Furthermore, provisions for testing, deployment, and documentation are essential for ensuring the reliability, functionality, and regulatory compliance of the patent management system. These investments are integral to delivering a robust solution that meets the needs of patent owners and users within the Cardano ecosystem.
Overall, the project's cost represents a prudent investment in delivering a pioneering solution that enhances patent management efficiency and transparency on the blockchain. By adhering to industry standards and best practices, the project demonstrates a commitment to delivering value for money while advancing innovation within the Cardano community.
There's immense potential to drive adoption and fuel growth within the Cardano ecosystem and beyond. Investments in research, legal consultation, and project management lay the groundwork for efficient patent management on the blockchain, facilitating adoption by Cardano-specific projects to leverage our solution.