About the client:
By using blockchain technology, the company complements traditional IP protection strategies by offering proof of authorship via secure digital publication on the Blockchain. This way, your interests are protected by safely sharing and transferring IP. It is the fastest, easiest, safest and cheapest way of establishing documented ownership of intellectual property protection.
What was the problem:
Vaultitude is trying to solve a few of the major problems that the intellectual property industry is facing. It is a platform that addresses the needs of intellectual property (IP) professionals, technology transfer managers, artists, scientists, and inventors by establishing documented ownership of intellectual property. For instance, thanks to blockchain technology it is possible to create the so-called smart IP registries creating an accountable authority that operates as a record of events that can never be changed.
What was the solution:
Vaultitude offers a digital vault in which all types of IP can be securely stored. Corporate accounts are ideal for teams working together with different user rights and a log documenting all actions of the users. Optimal protection against data corruption, fire or theft. In countries in which a grace period after publication of a new invention exists, the author can retain his right to file a patent. The platform can thus be an active tool in pre-seed financing by helping inventors to raise the funds for filing a patent and/or commercializing it – thanks to better protection and higher visibility of a published IP.
The major benefit of using Blockchain for intellectual property is that it allows you to prove that you had some idea prior to anyone else. By using Blockchain technology, Vaultitude complements traditional IP strategies by offering proof of authorship via secure digital publication on the Blockchain. This way, the process is fast, easy, low-cost and safe. With its immutable ledger, the Blockchain acts as a means to prove your rights and this way allows you to document the creation of IP, who has been given access to it, who bought it, etc.
LimeChain created the whole Blockchain architecture, developed the ICO and prototype. We are also working towards further development of the solution by collaborating closely with Vaultitude to make sure that all of their requirements are met.
Industry: Intellectual Property
Location: Vienna, Austria