afterBOT Engages ipCapital Licensing Company to Lead Intellectual Property Commercialization Program
Norcross, GA, September 8, 2010 - afterBOT, Inc.(http://www.afterbot.com/), the retail industry leader in digital receipt technology and services, announced today that it has engaged ipCapital Licensing Company LLC (ipCLC) to lead its intellectual property (IP) commercialization program. ipCLC is pursuing licenses with commercialization partners who are best suited to capitalize on the value of afterBOT's powerful portfolio of patents, pending applications, and in-process inventions.
ipCLC is using the output of the business case, valuation, and strategy work facilitated earlier in 2010 by ipCapital Group, Inc. (ipCG), one of the nation's leading intellectual property (IP) strategy consulting firms, to pursue high-value opportunities in a wide range of industries, such as consumer electronics, food, and personal products. ipCLC will work with a selected set of commercialization partners to negotiate creative IP business transactions that protect value for afterBOT and support a distinct competitive advantage for its partners.
"afterBOT selected ipCG after researching the market to find a company that would bring a long term, business approach to monetizing our intellectual property – something John Cronin is clearly expert at. He and his team at ipCG did very good work in helping build a value proposition for afterBOT," said John Simon, CEO of afterBOT. "We are excited to be an early customer of ipCLC and believe they will deliver good value for afterBOT for many years to come."
"We are honored to be working with afterBOT to commercialize its powerful technology and IP," said John Cronin, Founder of ipCLC. "We quickly realized during our initial due diligence of the afterBOT technology and IP portfolio that no single company can possibly extract the full value. There are endless industries where afterBOT's digital receipt technology applies to create significant value for consumers, retailers, suppliers, and other technology providers in the retail value chain. So, we are reaching out to leading and respected companies according to a strategy developed and refined over the last several months."
afterBOT, Inc. combines atomic level, real-time digital receipt based software technology with patented industry solutions to provide a comprehensive, secure business management system that can drive top and bottom line growth for retailers, manufacturers and related third parties. afterBOT was founded in 2000 and is privately held. AfterBOT's investors include Chrysalis Ventures and, e-RM Ventures. For more information visit us at www.afterBOT.com.
About ipCapital Licensing Company:
ipCapital Licensing Company (ipCLC) is one of the world's most experienced intellectual property ("IP") licensing companies. We provide IP sales and licensing services to companies of all sizes in the public and private markets and across most industries. All of our clients benefit from senior-level attention from partners with a wide range of industry expertise. ipCLC has assembled a team experienced in IP sales and licensing transactions. The team is led by John Cronin, founder and Chairman of ipCapital Group, Inc., an intellectual property consulting firm. For more information, visit www.ipclc.com.
About ipCapital Group:
Since 1998, ipCapital Group (ipCG) has delivered over 550 successful IP engagements to companies in a wide range of industries. Its professional services maximize financial results for clients that seek to develop and execute intellectual property (IP) strategies, strengthen and monetize IP portfolios, and establish and implement Intellectual Asset Management (IAM) practices. ipCG has an interdisciplinary team trained in business, law, marketing, and product development that provides a systematic and comprehensive view of the full lifecycle of IP, from creation to monetization to retirement. For more information, visit www.ipcg.com.