An idea to look at in context of Ray's research area... the innovation exchange

[dazzaji]

here is an adjacent idea for a way to legally structure a "trust network" (which is the term Sandy prefers to describe any bounded community based upon agreements): https://github.com/eCitizen/SandBox/blob/master/InnovationExchangeOutline.md (this one is focused on the exchange of innovation and ideas and not an identity federation or a personal data sharing/access/analytics/broker type consortium or other network (but perhaps it would be valuable for us to apply ourselves to speculating on how a Personal Data services "Trust Network" might be legally structured as an extrapolation or alternative to the innovation exchange)

[rac3]

I get a page-not-found message when I try the link.

On Mon, Dec 30, 2013 at 2:32 PM, Dazza Greenwood notifications@github.comwrote:

here is an adjacent idea for a way to legally structure a "trust network" (which is the term Sandy prefers to describe any bounded community based upon agreements): https://github.com/eCitizen/SandBox/blob/master/InnovationExchangeOutline.md(this one is focused on the exchange of innovation and ideas and not an identity federation or a personal data sharing/access/analytics/broker type consortium or other network (but perhaps it would be valuable for us to apply ourselves to speculating on how a Personal Data services "Trust Network" might be legally structured as an extrapolation or alternative to the innovation exchange)

— Reply to this email directly or view it on GitHubhttps://github.com/LegalPhysics/Research/issues/2 .

[linakaisey]

The same happened for me.

I found this PDF by googling and am going to place it my folder alongside the OAuth.2 brief for its section "2. Legal Rules" : http://openpds.media.mit.edu/documents/System_Rules.pdf

[rac3]

Much appreciated!

On Thu, Jan 2, 2014 at 11:38 AM, linakaisey notifications@github.comwrote:

The same happened for me.

I found this PDF by googling and am going to place it my folder alongside the OAuth.2 brief for its section "2. Legal Rules" : http://openpds.media.mit.edu/documents/System_Rules.pdf

— Reply to this email directly or view it on GitHubhttps://github.com/LegalPhysics/Research/issues/2#issuecomment-31464540 .

[dazzaji]

I will try to copy the file in this comment (apparently you don't have rights to the Repo where david keeps the file). Here it is:

The Research Exchange: A financial market for scientific research

Abstract

The Research Exchange is an intellectual property market that incentivizes innovation by creating a platform for investors and researchers to fund, trade, and license all stages of research. The Exchange will improve upon the presently dysfunctional IP and fundraising systems by using open innovation, crowdfunding, market mechanisms, an improved examination process, improved research attribution, and flexible industry-tailored rules.

Introduction

The Research Exchange is a scientific research and intellectual property market that incentivizes innovative research. The current patent system limits IP protection to marketable ideas, grants the patent owner monopoly rights that can decrease collaboration and innovation, and is enforced primarily by expensive litigation. The Exchange’s IP protections will apply to any research published to the exchange and will use open innovation, crowdfunding, market mechanisms, an improved examination process, improved research attribution, and flexible industry-tailored rules to maximize innovative research.

The Exchange assigns financial value to all stages of research by allowing individuals to trade shares in published research. While all research listed on the Exchange will be available open source to members of the exchange for non-commercial purposes, new listed research must use the Exchange to secure rights to its cited research by compensating the owners of preceding influential research. The Exchange will formalize an improved intellectual property system that uses state of the art market and information tracking technologies. This will enable researchers to more easily fund their research and provide companies participating in the Exchange a better pool of research to monetize.

Problems the Exchange aims to solve

The patent system does not sufficiently incentivize private investment in basic research and riskier applied research. This creates a significant externalities problem. Talented young people are not going into research professions. Patents require litigation to enforce. The academic publishing and citation system is not structured in a way that makes it easy to determine how research is generated, how influential research is, and the economic value of research. Research funding is a very difficult process that takes up too much of researchers’ time. The patent system encourages secrecy and discourages collaboration. The current intellectual property system does not keep up with the pace of technological change. Overview of the exchange process

Researchers submit their research to be published on the exchange. Anonymous referees and independent examiners (the Review Board) review the research. Published research is open source to members of the exchange for research purposes. Once the research is published, Research Shares are issued representing ownership in the Research. The authors and their investors receive shares in the research. Preceding influential research also receives shares in the new research based how influential it is. Marketable research is patented and licensed to companies. Licensing fees are distributed to the Research Shares owners according to ownership percentage. Research Shares may be traded on the exchange at market prices. Researchers can fund their research through the Exchange at any point in the process. The Exchange’s solutions

Since formative basic research receives shares in marketable applied research, basic researchers are compensated by the private market. Industry therefore has greater incentive to finance basic research. Additional funding makes STEM jobs more lucrative and create better support systems Researchers. Licensing rather than litigation based. Arbitration can be if there are significant disagreements. By combining with the market valuations of the research with data on published research's influencers, investors and researchers will better understand and predict what creates valuable research. As basic research becomes more valued, there will be a market for entrepreneurial people to team up with researchers to assist them in raising money. Since IP will no longer be an all or nothing system, publishing and collaboration will be more valued. The Exchange will iteratively modify the Exchange rules to better achieve its goals. Goal

The goal is to increase the amount of innovative scientific research.

The means is a “research exchange,” designed to more specifically monetize all the stages of scientific research, which will allow for the ability and incentive to invest financially at all stages of research. The Exchange will attempt to achieve this goal by offering greater financial incentives to engage in research, decreasing the externalities associated with basic research, encouraging collaboration and the free flow of information, and offering a (meta) research platform that measures how successful research is generated.

OUTLINE

Introduction

Problems with the current IP system

Basic research has significant externalities Talented young people are not going into research professions Difficult to determine economic value of research Difficulties of research funding Encourages secrecy and closed research Does not keep up with the pace of technological change Other research incentivization methods

Government and private foundations Open source Contests Patent pools, aggregators, and clearinghouses Patent exchanges (IPXI) Introduce Example-Genetics

Myriad Genetics developed tests for the BRCA1 and BRCA2 genes. Costs vs. Benefits of patenting the gene identification tests Hypothetical scenario Research exchange process

Researchers submit their research to the exchange The Review Board reviews submitted research Research Shares are issued in the research The authors and their investors receive shares in the research Preceding influential research receive shares in the research or licensing fees Market determined method vs. Review Board determined method Marketable research is patented and licensed to companies Exclusive licenses or non-exclusive licenses Licensing fees are distributed to the Research Shares owners All research is open source for exchange members for research purposes Research Shares may be traded on the exchange at market prices Crowdfunding: Researchers raise funds through the Exchange The Exchange’s solutions

Basic research’s IP protection leads to increased private investment Additional funding will increase the appeal of scientific research jobs Financial markets will help us understand what creates valuable research Increased money leads to funding help for researchers Publishing and collaboration will be more valued The Exchange’s rules will be designed to be constantly updated Example-Genetics

Myriad Genetics developed tests for the BRCA1 and BRCA2 genes. Costs vs. Benefits of patenting the gene identification tests Hypothetical scenario: Assume researchers find a similar BRCA type gene for Melanoma Developing Economic models to predict Exchange behavior

Potential problems with the Exchange

Catch 22 The system might not provide enough value to applied researchers. This system still doesn't fully solve the patenting issue. There may be significant legal and regulatory hurdles involved in setting up the Exchange. Monetization could decrease collaboration or create extra stressors for collaborators.

Additional components of the Exchange

[dazzaji]

I think this is stale now. FYI, David Sendor is picking up aspects of this idea via new content that we'll publish this summer.