System and method of tokenizing patents

Abstract

We are tokenizing patent ownership. This opens up transactions that simply are not possible today. The special purpose vehicle (SPV) is like a ‘trust’ that exists to hold and execute the patent transactions on the owner side without the owner being involved. The smart contract has self-executing elements and handles trust issues. The invention utilizes artificial intelligence (AI).

What is claimed is: 
     
         1 . A network comprising a plurality of nodes, each node in the plurality of nodes configured to transact with at least one other node in the plurality of nodes, the network further comprising:
 at least one hardware processor, a non-transitory machine-readable storage medium having an executable computer readable program code, the at least one hardware processor configured to execute the computer-readable program code to:   receive, by the secure ledger network, a request to validate a smart contract that determines at least one rule for a transaction involving the distribution of the virtual currency, wherein an execution of the transaction comprises:
 receiving, by the secure ledger network, a request to approve an exchange rate for at least one virtual currency token in terms of FIAT currency; 
 validating the exchange rate; 
   updating a secure ledger maintained by the secure ledger network with the smart contract;
 the smart contract further configured with at least one rule regarding the floating of the virtual currency; 
 executing a smart contract; 
 updating the secure ledger about the transaction; and 
 an evaluation engine, the engine capable of determining the value of an intellectual property asset in terms of virtual currency, said evaluation engine configured to update the smart contract regarding the value of the IP asset in terms of virtual currency. 
   
     
     
         2 . The virtual currency of  claim 1 , wherein a limited number of virtual currency tokens exist. 
     
     
         3 . The smart contract of  claim 1 , further programmed with a rule regarding the number of virtual currency tokens to disburse. 
     
     
         4 . The smart contract of  claim 3 , wherein the rule regarding the amount of virtual currency tokens to float is dependent on the existing value of the virtual currency token with respect to FIAT currency. 
     
     
         5 . The smart contract of  claim 3 , wherein the rule regarding the amount of virtual currency tokens to float is based on the length of time the virtual currency has been available for use or trade. 
     
     
         6 . The smart contract of  claim 3 , wherein the rule regarding the amount of virtual currency tokens to float is based on the total number of virtual currency tokens available. 
     
     
         7 . The smart contract of  claim 3 , wherein the rule regarding the amount of virtual currency tokens to disburse is based on percentage of the total virtual currency tokens available is released. 
     
     
         8 . The network of  claim 1 , further configured as a decentralized network. 
     
     
         9 . The network of  claim 1 , further configured as a blockchain network. 
     
     
         10 . The secure ledger of  claim 1 , further configured as a public ledger. 
     
     
         11 . The secure ledger of  claim 1 , further configured as a private ledger. 
     
     
         12 . A method of tokenizing intellectual property assets, the method comprising:
 limiting the number of virtual currency tokens available to float;   determining an initial amount of virtual currency tokens to float;   programming a smart contract with rules regarding additional amount of tokens to float;   recording the smart contract on a network accessible by the public;   analyzing the real time value of the virtual currency token across several virtual currency exchanges; and   determining the value of an intellectual property asset in terms of the current value of the virtual currency token;   
     
     
         13 . The method of  claim 12 , wherein the rules in the smart contract are based on the length of time the virtual currency has been available for use or trade. 
     
     
         14 . The method of  claim 12 , wherein the rules of the smart contract are based on the total number of virtual currency tokens available. 
     
     
         15 . The method of  claim 12 , wherein the rules of the smart contract are based on the value of the virtual currency token. 
     
     
         16 . The method of  claim 12 , wherein the network is a blockchain network. 
     
     
         17 . The method of  claim 12 , wherein the smart contract rules disclose a percentage of virtual currency tokens to float. 
     
     
         18 . The method of  claim 12 , wherein the smart contract rules disclose the number of virtual currency tokens to float. 
     
     
         19 . The method of  claim 12 , wherein the virtual currency tokens are utility tokens. 
     
     
         20 . The method of  claim 12 , wherein the virtual currency tokens are security tokens.