Winklevoss IP, LLC (Wilmington, DE)

The disclosure covers methods as well as products and devices that can authorise and perform transactions on autonomous devices. The device can generate and transmit to the computer system for transaction an electronic transaction request comprising first transaction data comprising an account identifier of the sender connected to the autonomous device as well as a destination account identification and a transaction value and a timestamp. The device can verify the transaction with private keys from an Asymmetric Key Pairing.

The Internet of Things and autonomous devices are becoming an more and more important in the market. Networked computers are being integrated into devices which previously required human operation, management or oversight.Networked appliances as well as autonomous vehicles are in development. The new internet of things could provide a wide range of self-contained devices according to inventors. They also acknowledge the growing demand for suchdevices that are able to conduct transactions, and for computer devices to tackle the technological issues associated with such transactions. For example, inventors think washing machines in laundromats might accept payments via digital payment. Refrigerators could order food items according to a predetermined timetable or when supplies are low. Autonomous drones, autonomous vehicles, and/or self-driving cars can pay tolls, and/or pay for fuel. Technical solutions,including new computer systems and software are necessary to allow autonomous devices to engage in transactions safely, like to prevent fraudulent transactions, to guard against unauthorized transactions from being intercepted orotherwise tampered by drones, or to confirm the owner’s authority to conduct the transactions. Further, technical solutions are required to verify the identity of autonomous devices, their owners, administrators and operators. Suchidentities may be required in order to comply with rules based on identification for financial transactions.

The present invention provides technical solutions to these technical requirements.

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Granted by the government to safeguard an invention, a patent provides the inventor with the exclusive right to use, create, sell and promote the invention? Society is benefited when a brand new technology is introduced into the marketplace. The benefits can be directly realized as people are able to perform feats previously thought impossible as well as indirectly through the economic opportunities that innovation offers (business growth, employment).

Patent protection is sought by many pharmaceutical companies and university researchers to protect their research and development. Patents can be granted for the creation of a product, process or method of making new materials. In order to be granted protection under a patent, an invention must be valuable, new, and not obvious to other people in the same subject.

Patents recognize and give inventors a reward for commercially profitable inventions. They are an incentive to inventors to create. Patents allow entrepreneurs and inventors to know that there is an excellent chance that they will get a profit for their time, effort and money spent on technological development. They can earn a living from their work.

Businesses with the ability to:

Secure innovative products and services;

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Differentiate your business and products from the rest;

Get technical and business information.

Avoid accidentally using third-party content or risking losing important information as well as creative outputs and other outputs.

Patents can transform an inventor’s knowledge into a marketable asset that opens up new possibilities to create jobs and boost expansion of businesses through licensing or joint ventures.

Small companies that have patent protection are more appealing to investors who are involved in the development and commercialization of technology.

Patents can lead to new ideas and new inventions. This information can promote innovation and may qualify to be protected by patents.

Patents can serve as an obstacle to unscrupulous third parties that profit from the invention’s success.

The profits from technology patents that are successful and commercially viable could be used to finance technological research and development (R&D) that will improve the chances of developing better technology in the future.

Intellectual property ownership is a way to convince investors and lenders that there are legitimate opportunities to market your product. Sometimes, a single patent can open the door to numerous financing possibilities. Patents can be used along with other IP assets as collateral or security for financing. Investors are also able to view the patents you own to increase their company valuation. Forbes and others have pointed out that each patent could increase the value of your company by as much as $500,000 to $1 Million.

A well-thought-out business plan is essential for startups. It should be based on IP and explain how your product/service is distinct. Investors will also be impressed if your IP rights are secure or are on the verge of becoming secure, and that they are in line with your business plan.

It is crucial to keep your invention secret until you apply to protect it with patents. Public disclosure of an invention before it is filed can often destroy its novelty and make it ineligible for patent protection. Therefore, pre-filing disclosures (e.g. for testing-marketing, investors, or other business partners) should only be made following the signing of a confidentiality agreement.

There are many types of patents. Knowing them is essential to safeguard your invention. Utility patents protect new processes and machine creations. Design patents cover ornamental designs. Utility patents are the best since they shield the proprietor from copycats as well as other competitors. They are typically issued to improve or alter existing inventions. Patents issued under utility can be used to improve or alter existing inventions. For instance, a procedure patent will cover acts or methods for performing a specific act, whereas chemical compositions will comprise a mixture of ingredients.

What is the length of time a patent will last? While utility patents are valid up to 20 years from the initial filing, they can be extended through delays in the patent office.

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When you’re writing your patent application, you should do a patent search. the search can provide an insight into the other applicants’ concepts. This can help you limit the scope of your invention. Also, you can discover the current technological advancements in the field you’re inventing. You’ll have a better idea of what your invention should be and be better prepared to write your patent application.

How to Search for Patents

The first step to get your patent is to conduct a patent search. You can do a google patent search or do a USPTO search. Once the patent application is submitted, the product that is covered by the application can be called patent-pending, and you will be able to locate the patent application on public pair. After the patent office has approved the patent application, you can do a patent number search to find the patent issued, and your product is now patented. You can also use the USPTO search engine. Read on for more details. It is possible to seek help from a patent attorney or patent attorney. Patents granted in the United States are granted by the US trademark and patent office, or the United States patent office. This office also evaluates trademark applications.

Interested in finding more similar patents? Here are the steps:

1. Brainstorm terms that describe your invention, based on its intended purpose, composition and application.

Write down a succinct and precise description of your idea. Don’t use generic terms such as “device”, “process,” or “system”. Instead, look for synonyms to the terms you selected initially. Also, keep track of significant technical terms as well as key words.

To help you identify the key words and concepts, try the following questions.

  • What is the goal of the invention Is it a utilitarian device or an ornamental design?
  • Does the invention consist of a method of creating something or performing an action? Or is it a product or procedure?
  • What is the basis of the invention? What is the physical makeup of the invention?
  • What is the goal of the invention?
  • What are the terms in the technical field and keywords that describe the nature of an invention? To help you find the right terms, refer to the technical dictionary.

2. Utilize these terms to locate relevant Cooperative Patent Classifications on the Classification Text Search Tool. To find the most appropriate classification to your invention, scan the class scheme of the classification (class schedules). Consider substituting the words that you’ve used to describe your invention if you do not receive any results from your Classification Text Search with synonyms like the ones you used in Step 1.

3. Examine the CPC Classification Definition to determine the relevancy of the CPC classification you’ve found. The link to the CPC classification definition will be available when the classification you have selected has a blue box that includes “D” to the left. CPC classification definitions will help you determine the applicable classification’s scope so that you can select the most relevant. In addition, these definitions can include some tips for searching and other information that may be useful for further study.

4. Get patent documents using the CPC classification from the Patents Full-Text and Image Database. You can look through and narrow down the most relevant patent publications selecting first the abstract and the drawings that are representative.

5. Take advantage of this list of most pertinent patent documents to examine each one in depth for any the similarities to your idea. Be sure to read the specification and claims. Contact the applicant as well as the patent examiner for any additional patents.

6. You can find published patent applications that meet the CPC classification you picked in Step 3. You may also employ the same search strategy that you used in step 4 to limit down your results to just the most relevant patent applications by looking over the abstracts as well as the drawings for each page. Next, examine every patent application that has been published with care with particular attention paid to the claims as well as other drawings.

7. Find additional US patent publications using keyword searching in PatFT or AppFT databases, classification searching of non-U.S. patents as described below, and searching for non-patent literature disclosures of inventions using web search engines. Here are some examples:

  • Add keywords to your search. Keyword searches may turn up documents that are not well-categorized or have missed classifications during Step 2. For example, US patent examiners often supplement their classification searches with keyword searches. Think about the use of technical engineering terminology rather than everyday words.
  • Search for foreign patents using the CPC classification. Then, re-run the search using international patent office search engines such as Espacenet, the European Patent Office’s worldwide patent publication database of over 130 million patent publications. Other national databases include:
  • Search non-patent literature. Inventions can be made public in many non-patent publications. It is recommended that you search journals, books, websites, technical catalogs, conference proceedings, and other print and electronic publications.

To review your search, you can hire a registered patent attorney to assist. A preliminary search will help one better prepare to talk about their invention and other related inventions with a professional patent attorney. In addition, the attorney will not spend too much time or money on patenting basics.