Incentivized crowd funding system for internal innovation by an organization

Number of patents in Portfolio can not be more than 2000

United States of America Patent

PATENT NO 10740734
APP PUB NO 20160335610A1
SERIAL NO

14713151

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ATTORNEY / AGENT: (SPONSORED)

Importance

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Abstract

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Crowd funding for innovation includes distributing a proposal with a description of a project idea, an amount of funds requested, and a time frame for raising the funds. Ownership of the project is transferred to an entity, which receives contributions from contributors and for each of the received contributions converts the contribution to a corresponding amount of virtual coin and adds the contribution to the funds. If the funding goal is complete within the time frame, the entity converts the coins to actual money and releases the money to the requestor. After completion of the project, the entity determines if the project is successful and can commercialize successful projects. For certain successful projects, the entity can also distribute the back funds to the contributors.

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First Claim

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Patent Owner(s)

Patent OwnerAddress
SOLVENTUM INTELLECTUAL PROPERTIES COMPANY3M CENTER 275-6E-21 2510 CONWAY AVE E MAPLEWOOD MN 55144

International Classification(s)

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  • [Patents Count]

Inventor(s)

Inventor Name Address # of filed Patents Total Citations
Bohannon, Kandyce M Cedar Park, US 16 71
Johnston, Raymond P Lake Elmo, US 101 2905
Kieschke, Robert R Woodbury, US 26 563
Perez, Mario A Burnsville, US 94 2102
Sherman, Audrey A Woodbury, US 221 4392
Sherman, Frank J Woodbury, US 3 0

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Maintenance Fees

Fee Large entity fee small entity fee micro entity fee due date
3.5 Year Payment $1600.00 $800.00 $400.00 Feb 11, 2024
7.5 Year Payment $3600.00 $1800.00 $900.00 Feb 11, 2028
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