The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Aug. 11, 2020
Filed:
May. 15, 2015
3m Innovative Properties Company, St. Paul, MN (US);
Audrey A. Sherman, Woodbury, MN (US);
Robert R. Kieschke, Woodbury, MN (US);
Frank J. Sherman, Woodbury, MN (US);
Mario A. Perez, Burnsville, MN (US);
Raymond P. Johnston, Lake Elmo, MN (US);
Kandyce M. Bohannon, Cedar Park, TX (US);
3M INNOVATIVE PROPERTIES COMPANY, St. Paul, MN (US);
Abstract
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.