Introduction: Oftentimes, Patents’ rights and privileges are denied and trampled upon- thereby rubbing them off their inventions.
To a large extent therefore ,Acumen is a timely intervention that brings about relief to patents who have suffered the said injustices.
Acumen is a global network that decentralizes patent ecosystem. It is a technology that simplifies and facilitates the process of Patent registration. Apart from that, it also accords secured license to all registered Patents through a smart contract that is reliable and trustworthy .
Above all, Acumen will create an ecosystem of freelance for Patent and engineer attorneys. The aforesaid ecosystem will serve as an approval board that synergizes with community votes to ensure that corruption is kept at bay.
Objectives of Acumen:
We embark on spreading the Acumen network to ensure the following; (1) license the technology to as many Countries as possible, (2) build and enlarge a stronger community on our test net,(3) reform the patent judicial system for a hitch free patent trials. The significance of these objectives can not be overemphasized. This thus is imperative because the system has long been enveloped by inefficiency and abuse. For instance statistics reveal that there are hundreds of thousands of applications lying un-reviewed because of limited number of examiners. It further estimated that it takes roughly two years for the office action to review a Paten application. It is indeed frustrating for applicants to patiently wait for number of donkey years. Fortunately, Acumen will empower IP lawyers, engineers and entrepreneurs that are glad to donate their time and mental prowess to review those applications so that patent innovations could be enhanced.
Nevertheless, Acumen will also give voice to Patent Community members to express their opinions- this will further give them the opportunity to protect inventors from being taken undue advantage off until their produce hits the market. After this the patent will empire so that market competition will continue to flourish. Another area of interest is the complex nature of the actual working of Patent bureaucracy, it is fused into the hands of selected few, thus obscured from public view. This is to a large extent is a discouragement to innovations and intellectualism. Acumen is set to correct these ills.
The Initial coin offer (I c o)
Acumen will at its kick -off time gives incentives to its subscribes. These will in turn be empowered to become mock patent examiners, engineers and judges of the ecosystem. All participants will receive Acumen token as a reward for supporting the project at this initial stage.
The second stage is to sensitize countries to warm up to the idea. It is at this stage that investors will be encouraged to switch their investments to the Acumen blockchain through its database.
The Token allocation is something special to all business’ minds. All funds collated within the distribution period will be spread as follows; (1) Core development: 30%, (2)operational 40%, (3) marketing and sales 10%. The blockchain will release 1billion token for the above distribution.
Acumen has the potential to completely eradicate injustices and illegalities from the patent industry and replace it with sanitized bureaucratic process built on transparency, global adoption and community- driven network.
Consequently, an investment with Acumen is a foundation for a better tomorrow.
For further Information about ICO please visit;
Official Website: https://acumen.network/
Official Whitepaper: https://acumen.network/Whitepaper-English.pdf
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