The purpose of Intellekten is to encourage inventive talent by improving the rewards for inventions.
Inventive talent is the seed for radical and disruptive innovation. It has the power to create new products or services of high value for people or organizations, creating new markets or deeply altering existing ones.
Inventive talent is a treasure trove.
The problem is that it is often frustrated and therefore inhibited. Monetizing an invention is not easy.
If the invention is good, the best option is to do it through a patent. It is a long, costly and time-consuming process but if it is done well, it is worth it.
Intellekten was born with the purpose of disrupting the patent application, deployment and monetization process in order to maximize the reward for inventors.
To this end, Intellekten uses blockchain technology and tokenization, specifically Non-Fungible Tokens (NFTs). Each patent is tokenized into a set of NFTs that represent the rights to exploit the invention in various countries. The NFTs are initially shared among the inventors, the team validating the patentability of the invention and early investors. Once the patent is granted, the NFT holders can sell their tokens to partners interested in the commercial exploitation of the patent.
This process inherits from the underlying technology unique features such as decentralization, security, traceability, transparency or automation (smart contracts).
With Intellekten, inventors and organisations have a platform to support the valorisation of their inventions, allowing them to monetise their contributions at any time.
Intellekten is being modelled in the METAtalent programme with the support of a pioneering Web3 community.
The vision for Intellekten is to be a NFT marketplace for intellectual property assets, initially patents.