If You Create the Value,
You Own the Asset.
The Meritocratic Party builds ownership infrastructure for the intangible economy — so the people who create value share in the wealth their contributions produce.
Founded in Washington State · May 2026
THE PROBLEM
The Largest Pool of Dead Capital in Human History
90%
of S&P 500 market value is intangible assets — ideas, data, expertise, IP — yet most have no liquid market, no standardized valuation, and no tradeable instrument.
Source: Ocean Tomo
92 Million
jobs will be displaced by AI by 2030. Workers' accumulated expertise is extracted to train automated systems — without ownership compensation.
Source: WEF Future of Jobs Report 2025
$74+ Trillion
in global intangible asset value sits as "dead capital" — intellectual property without the ownership infrastructure that stocks gave to the industrial economy.
Source: WIPO
The 20th century built infrastructure to own physical things — deeds for land, titles for cars, stock certificates for corporate shares. The 21st century economy runs on intangible assets, but we have built no equivalent ownership infrastructure for the people who create that value. The Meritocratic Party changes that.
THE SOLUTION
Provenance-Backed Securities
A new class of digital financial instrument that lets creators own, value, and trade the intangible assets they produce.
Provenance Ledger
An immutable record of who created what. Every contribution is documented, verified, and cryptographically secured — establishing clear ownership chains for intangible assets.
Performance Oracle
Real-world performance data — crop yields, streaming revenue, patent citations, clinical outcomes — verified by independent systems. PBS values are anchored to measurable results, not speculation.
Exchange Protocol
Open marketplace infrastructure for listing, pricing, and trading PBS. For the first time, a farmer's seed genetics, an artist's catalog, or a worker's expertise can be traded as liquid securities.
SeedBid — Proof of Concept
The framework isn't theoretical. SeedBid (U.S. Patent Application No. 64/048,095) demonstrates Provenance-Backed Securities in the agricultural genetic IP market — a $77–93 billion sector where 4 companies control roughly two-thirds of the global commercial seed market. SeedBid gives independent breeders a liquid exchange for their genetic innovations.
Invented by Joseph Richard Harmon, Mill Creek, Washington
WASHINGTON STATE
The Delaware of the Intangible Economy
Delaware defined corporate law for the 20th century. Washington can define intangible asset ownership for the 21st.
Innovation Economy
Home to Microsoft, Amazon, Boeing, and thousands of tech companies generating world-leading IP.
Agricultural Powerhouse
$10.6 billion agricultural sector — immediate SeedBid deployment for seed genetics, hops, apples, and wheat.
No Income Tax
PBS transaction fees create a new revenue stream without income taxation — diversifying Washington's tax base.
Research Infrastructure
UW and WSU provide world-class research capacity for performance oracle development and validation.
THE PLATFORM
Twelve Planks for the Ownership Economy
Provenance-Backed Securities Act
Pass state and federal legislation creating the legal framework for tokenizing intangible assets.
Worker Expertise Ownership
Every worker owns their provenance-documented expertise — employers cannot require waiver as a condition of employment.
AI Training Royalties
When your expertise trains an AI system, you retain an ownership interest and receive compensation.
The SeedBid Initiative
Launch the first PBS exchange for agricultural genetic IP, breaking monopoly pricing in the seed market.
Creative Ownership Infrastructure
Performance-verified securities for musicians, artists, game developers, and writers.
Data Sovereignty
Your personal data is your property — own, control, and trade it with full provenance transparency.
Open Research Ownership
Scientists retain ownership stakes in publicly funded discoveries.
Manufacturing Expertise Preservation
Factory workers' process knowledge is documented, owned, and compensated.
Regulatory Sandbox Innovation
Controlled testing environments for new financial instruments before full regulation.
Meritocratic Education
Teach financial literacy, IP ownership, and provenance documentation in schools.
Anti-Monopoly in Intangible Markets
PBS exchanges create price discovery and competition against corporate concentration.
International Leadership
The United States sets the global standard for intangible asset ownership.
THE WORK IS DONE
Seven Documents. Ready for Olympia.
The Meritocratic Policy Package includes everything needed to introduce legislation in the 2027 Washington State Legislative Session.
Executive Policy Summary
The crisis, the solution, and the case for Washington first.
Budget & Legal Justification
Fiscal analysis, constitutional authority, and regulatory pathway.
Washington State Bill
Full legislative text for the Washington Provenance-Backed Securities Act.
Federal Bill
National Provenance-Backed Securities Framework Act for Congress.
Economic Impact Report
Market projections, job creation, and GDP contribution analysis.
Technical Appendix
Three-layer architecture specifications and implementation roadmap.
Meritocratic Party Starter Kit
Platform, organizing guide, and messaging framework.
The white paper — "Provenance-Backed Securities: A Framework for Tokenizing Intangible Assets and Redistributing Ownership in the Age of Automation" — is available on SSRN.
OUR VALUES
The Five Pillars
Contribution Earns Ownership
If you create the value, you own the asset.
Empiricism Over Ideology
Policy driven by measurable outcomes, not partisan loyalty.
Infrastructure, Not Redistribution
We build the roads and exchanges that let everyone participate in ownership.
Technology Serves People
AI should create owners, not just unemployment.
Transparency Is Non-Negotiable
Provenance is public. Performance is measured. Ownership is verifiable.
ABOUT
Joseph Richard Harmon
Founder, Meritocratic Party · Independent Researcher · Mill Creek, Washington
Joseph Richard Harmon is the author of the white paper "Provenance-Backed Securities: A Framework for Tokenizing Intangible Assets and Redistributing Ownership in the Age of Automation" and the inventor of SeedBid (U.S. Patent Application No. 64/048,095), the first proof-of-concept exchange for agricultural genetic intellectual property. A resident of Mill Creek, Washington, Harmon founded the Meritocratic Party on the principle that those who create value should own the assets their contributions produce.
Join the Movement
The Meritocratic Party is building chapters across Washington State. Whether you're a farmer, artist, tech worker, researcher, or anyone who believes creators should own what they create — there's a place for you.
Thank you!
We'll be in touch as we build our first Washington State chapter.