1. Introduction:
The Fraud & Risk Management Policy on Patent Monetize is a comprehensive framework designed to detect, prevent, and mitigate fraudulent activities and potential risks within the platform. This policy ensures the security and trustworthiness of the intellectual property marketplace for all users.
2. Definition of Fraudulent Activities:
- Fraudulent activities encompass any deceptive, dishonest, or unlawful actions undertaken by users on Patent Monetize. This includes, but is not limited to:
- Misrepresentation: Providing false or misleading information about patents, transactions, or user identities.
- Unauthorized Transactions: Engaging in transactions without proper authorization or intending to deceive other users.
- Intellectual Property Infringement: Attempting to list or acquire patents that infringe on the rights of others.
3. Risk Management Strategies:
- Patent Monetize employs proactive risk management strategies to identify and address potential risks. These strategies are:
- User Verification: We employ robust user verification processes to ensure the legitimacy of users on the platform.
- Transaction Monitoring: Regular monitoring of transactions to detect unusual patterns or activities that may indicate fraudulent behaviour.
- Automated Systems: Utilization of automated systems and algorithms to detect and prevent fraudulent activities in real time.
5. Detection Mechanisms:
- The platform employs advanced detection mechanisms to identify potential fraud:
- Anomaly Detection: Identification of unusual patterns or behaviours that deviate from typical user activities can be traced to protect the system.
- Transaction Analysis: Analysing transactions for discrepancies or inconsistencies that may indicate fraudulent behaviour/intent of the user.
6. Reporting Mechanism:
Users are encouraged to report any suspicious activities or potential fraud through a designated reporting mechanism. This includes online forms accessible from the Support and Help section, and email address “support@patentmonetize.com” for cases like infringement or abuse.
7. Investigation Process:
- Upon receiving reports, Patent Monetize initiates a thorough investigation, which involves:
- Documentation Review: Analysing relevant documents and information to assess the legitimacy of patent-related pieces of information, the buyer/seller/inventor, or transactions.
- Communication with Users: Engaging with users to gather additional details, who are involved in procedures and carry out reported transactions, etc.
8. Suspension of Accounts:
In cases of fraudulent activities that are confirmed, Patent Monetize reserves the right to suspend the accounts of users involved. This is done to prevent further harm and protect the community.
9. Legal Cooperation:
Patent Monetize collaborates with legal authorities to address instances of fraud and resolve related issues that may have legal implications. Users engaged in fraudulent activities will be subject to legal action.
10. Continuous Monitoring and Adaptation:
The Fraud & Risk Management Policy is a dynamic document that evolves to address procedural issues and change the landscape of online transactions. The platform continuously monitors and adapts its strategies to stay ahead of emerging threats.
11. User Cooperation:
Users are expected to cooperate fully with any investigations related to potential fraudulent activities. This includes providing requested documentation and information to facilitate the resolution process.
12. Communication of Findings:
Upon completion of investigations, we liaise our findings to the affected parties. Clear communication & transparency are ensured which will help users understand the resolution.
13. Appeal for Action to be taken:
Users have the right to appeal decisions related to account suspensions or actions taken due to suspected fraud. The platform provides an appeal process to ensure fair consideration of user concerns, and what they plan to take to address the fraudulent activity.
14. Privacy Protection:
Patent Monetize is committed to protecting the privacy of its users. Information collected during fraud investigations is handled with utmost confidentiality and in compliance with privacy laws and regulations.