There are three stages in an ICO launch. They are Pre ICO, Offering, and Post ICO. This blog talks about how the patent portfolio and its intellectual property interface in these stages play an essential role in making an ICO launch successful.
So, ICO white paper, IP Interface, patent portfolio and IP portfolio, demonstration of IP in the patent portfolio are to be discussed to understand easily.
ICO is opted chiefly due to its unregulated nature, which is not applicable to venture capitalists or banks. Here, investors of the project are given a percentage of the coin in exchange for legal money or other cryptocurrencies.
What is an Intellectual Property Interface?
The intellectual property interface is a system to protect intellectual properties through patents, copyrights, and trademarks. The protection of intellectual property is essential for supporting innovation.
Businesses and individuals would not realize the full benefits of their discoveries if ideas were not protected, and they would focus less time on research and development.
Why Intellectual Property Interface in ICO?
Investors are carrying out due diligence on IP that a project/ company holds to identify the true potential of the project/team behind the project.
Thus, IP is used as a mechanism to attain a competitive advantage during the initial offering stage. If the white paper is well explained, then the ICO launch can turn out to be successful in attracting many participants.
Therefore it is highly recommended to have a competitive IP strategy to launch a successful ICO or an ICO development services.
How to create an IP Interface in ICO?
The intellectual property interface system in ICO development company includes the information given in the whitepaper, i.e., white paper acts as the base of the IP interface.
Here in ICO, the patent portfolio, which will be checked against the IP portfolio, includes:
- Project ideas.
- Project results (e.g., before and after using a technology).
- Solutions developed for an existing problem.
- New solution generation for a new trial.
- Innovative features included.
Most ICO white papers pay significant attention while presenting their patent portfolio, especially those technologies and features implemented in their project.
ICO white paper inclusive are given below
- Token development method.
- Token value or significance.
- Information on token release/sale.
- Business idea description.
- A roadmap including critical milestones.
- Usage of funds.
- IP interface in each step till token launch.
This information given in the ICO development services company on its whitepaper promotes the authenticity of the project that an entity holds. The extent of information included in the white paper purely depends on the company or the project holder.
To be precise, IP strategy is nowhere less equivalent to token development or the marketing strategy, which means that due consideration should be given to the IP interface when going for an ICO launch.