LegalForce, an online patent marketplace that mixes aspects of a social network and video sharing site, launched this week with $250,000 in seed funding, Venturebeat reported. The site is trying to raise a $2 million first round. For now, the site is free to users but Venturebeat reports that the Palo Alto-based start-up eventually plans to charge transaction fees and run advertising.
As a search engine, LegalForce lets users research patents. Users can also access contact information for all patent attorneys in the US, and some attorneys internationally. Furthermore, users can contact other members within the LegalForce network. The use of videos is primarily intended to assist users in sharing ideas. At some point, LegalForce will allow downloads of all U.S. patents and searches for profiles of inventors, owners and attorneys associated with particular patents.