Market’s Pain Point

Interest in patents is growing rapidly around the world. However, it is difficult for the general public to understand the contents of patents because patent specifications are in the form of documents that contain both legal and technical meanings, and the process of obtaining patent rights is composed of procedures and methods that are not accessible to the general public, making it difficult for the general public to access the patent trading market even if they are interested in patent trading.

In addition, even though the patent system is intended to encourage inventions by the general public, the inaccessibility of the patent system to the general public, as described above, makes it difficult for invention activities to occur outside of certain professions, such as corporate researchers and professors.

In addition, as the NFT market is activated, various contents are required, and although patent contents can be excellent contents in themselves, there is a problem that it is difficult to make them into NFT contents due to the difficulty of the patent description method described above.

Best Patent Team defines the main cause of this problem as follows.

• Absence of a reward system for inventors' activities and contents

• Absence of a trading system to facilitate patent transactions

• Absence of content that allows the general public to understand the contents of the patent specification easily

• Absence of action to induce public interest in patents and lower barriers to entry