How do I know my idea won't get stolen?Last Updated: January 12, 2019
Ideas are what we stand for here at LOCI. It's the center of everything we do, and we know that when you create something unique, it's important to understand that what you have is yours.
This document is meant to outline what happens when you put your idea into LOCI. To put it simply, LOCI does not have any ownership over your ideas. Your ideas are YOURS.
Our EULA at loci.io/eula breaks down the language for you in its full detail, but many don't want to read all that mumbo jumbo. Feel free however to read the full language at the bottom of this page to learn more.
To start, we note that user content is made publicly available. What does this mean? It means that if you run an idea through the invention analysis, and opt to stake it on the blockchain, it's made publicly available to not only the blockchain, but the LOCI Search platform as well. If you stake your idea, and another user finds it on the platform, they'll be able to bid to buy your idea. This is why we note that in the case that you opt for it, your idea could be publicly available.
Further continuing that, we also note that in regards to ownership, you own 100% of your user content. Directly from the EULA, "(a) you own or control all rights in and to the User Content you submit and have the right to grant the license granted above; and (b) all of your User Content does, and will in the future, comply with this Agreement."
Ideas are what drives LOCI, and our EULA is aimed to protect you as an individual and inventor. Reach out to our team at email@example.com if you have any questions.
- User Content. With respect to all public communications and interaction you make via the Application, including but not limited to User Content you make publicly available via the Application (see Section 4): (a) you acknowledge that you have no right of confidentiality in such User Content and we have no obligation to protect your communications from disclosure; (b) we are free to reproduce, use, disclose and distribute User Content to others without limitation; and (c) you grant us and other users of the Application a non-exclusive, royalty-free, perpetual, world-wide, irrevocable, sub-licensable and transferable right and license to use, reproduce, create derivative works of, distribute, or publicly display such User Content freely, and for any purpose whatsoever.
- Public Disclosure of User Content. You expressly authorize us to make publicly available to other Authorized Users any Authorized User Invention or other content by selecting the “Post to the blockchain” option on the Application. For clarity, if you select the “Save and exit” option to submit your Invention on the Application, your Authorized User Invention will not be disclosed publicly, and will be maintained confidentially by LOCI under the terms of this Agreement. BY SELECTING THE OPTION TO “POST TO THE BLOCKCHAIN” YOU PUBLICLY CLAIM AUTHORSHIP OF YOUR SUBMITTED INVENTION, WHICH, UNDER U.S. LAW, LIKELY TRIGGERS A TWELVE (12) MONTH PERIOD IN WHICH TO FILE FOR A PATENT IN THE UNITED STATES. FAILURE TO FILE FOR A PATENT WITHIN SUCH PERIOD MAY RESULT IN THE LOSS OF ANY RIGHT TO PATENT YOUR INVENTION IN THE UNITED STATES. FAILURE TO FILE FOR A PATENT PRIOR TO SELECTING THE OPTION TO “POST TO THE BLOCKCHAIN” MAY RESULT IN A LOSS OF PATENT RIGHTS IN COUNTRIES OTHER THAN THE UNITED STATES.
- Ownership. You represent and warrant that: (a) you own or control all rights in and to the User Content you submit and have the right to grant the license granted above; and (b) all of your User Content does, and will in the future, comply with this Agreement. We are not responsible, or liable to any third party or you, for the content or accuracy of any User Content posted or communicated by you or any other user. Information and content in the Application, including, without limitation, poll results, may contain technical inaccuracies and other errors. You agree that we are not responsible or liable for any such inaccuracies, errors or omissions, and shall have no obligation related to information affected by such inaccuracies. We reserve the right to make changes, corrections, cancellations or improvements to information and contents on the Application, and to the products and programs described in such information therein, at any time without notice, including after confirmation of a transaction.