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Blockchain-Based Patent Marketplace Enhancement & Expansion

itransition.com

Legal

Information technology

Business services

Inefficient Patent Management & Monetization

US-based Patent Solutions Inc. faces challenges related to opaque patent ownership tracking, difficulty in accurately valuing patents, fragmented vendor relationships, and limited liquidity for patent owners. These inefficiencies restrict opportunities for both patent holders seeking to monetize their inventions and potential buyers looking for relevant patent assets. The current system lacks transparency, automated processes, and a centralized marketplace for patent transactions.

About the Client

A leading US-based company specializing in global patent management, monetization, and intellectual property solutions for over 10 years.

Project Objectives

Develop a scalable and secure blockchain-based platform for patent buying, selling, licensing, and evaluation.
Automate patent monetization processes to reduce transaction costs and increase efficiency.
Enhance transparency in the IP market by providing a verifiable record of patent ownership and transactions.
Improve patent valuation accuracy through AI-powered analytics and market data.
Expand the platform's functionality to support additional IP asset types (e.g., trademarks, copyrights).
Increase user adoption by providing a user-friendly interface and valuable resources.

Functional Requirements

Patent Search & Discovery (keyword, patent number, technology area)
AI-Powered Patent Analytics & Valuation Scoring
Patent Listing & Marketplace Functionality (sale, license, public, private)
Secure Deal Rooms with Communication & Document Sharing
Blockchain-Based Ownership & Transaction Recording
Automated Patent Maintenance Fee Payments
User Portfolio Management
Admin Panel for Platform Management & User Administration
User Authentication & Authorization with Role-Based Access Control
Integration with Payment Gateways (Stripe)

Preferred Technologies

Solidity (for smart contracts)

Hyperledger Fabric (blockchain framework)

React

Node.js

Elasticsearch

PostgreSQL

Redis

IBM Cloud

Docker

Kubernetes

Integrations Required

Stripe (Payment Processing)
Patent Databases (for data enrichment)

Key Non-Functional Requirements

Scalability (to handle a large volume of patents and users)
Security (robust security measures to protect sensitive patent data)
Performance (fast search and transaction processing)
Reliability (high availability and minimal downtime)
Auditability (full audit trail of all platform activities)

Estimated Business Impact

The successful implementation of this project will enable US-based Patent Solutions Inc. to significantly expand its market reach, increase revenue through platform transaction fees, reduce operational costs by automating processes, and establish itself as a leader in the emerging market for blockchain-based patent management. The platform will empower patent owners with greater control over their IP assets and provide buyers with enhanced access to valuable patent opportunities.