afterBOT Adds to IP Portfolio with Fifth Patent for Automated Product Registration
Norcross, GA, May 1, 2012 - afterBOT, Inc.(http://www.afterbot.com/), the leader in digital receipt technology and services, announced today that it has been awarded U.S. Pat. No 8,165,960. The patent extends afterBOT’s existing portfolio of patents to cover the automation of the product registration process across buyers and sellers, and adds another component to the licensing program administered for afterBOT by ipCapital Licensing Company, LLC (ipCLC), one of the world's most experienced IP licensing companies.
afterBOT’s fifth U.S. patent, entitled "System and Method for Automatically Registering a Product" defines an invention whereby the buyer of a product, using a central database of transactions, can automatically register a product purchased, including detailed information about the product, such as serial number, with the seller.
This patent enhances significantly the value of afterBOT’s IP portfolio, which includes four other related U.S. patents (7,552,087 awarded in 2009, 7,742,989 awarded in 2010, and 8,001,046 and 8,112,356, both awarded in 2011), as well as additional pending patent applications covering new strategic inventions.
"We continue to add to our digital receipt IP portfolio," said John Simon, CEO of afterBOT. "The first four patents invented the central repository of digital receipts across multiple buyers and sellers, enabled the appropriate de-identification of confidential information while allowing for aggregation and analytics, and then added specific functionality related to attaching supplemental data to a digital receipt, automating the product return process, enabling secondary selling via hyperlinks on the digital receipt, and now, with this fifth patent, automating the product registration process. Buyers – both individual consumers and businesses - purchase a wide variety products where there are good reasons to register the purchase. It could be anything from a consumer durable with a serial number to a pharmaceutical drug with a prescription number. Automating this registration process, when combined with afterBOT’s other inventions, can provide the buyers, sellers, manufacturers, and appropriate third parties with significant efficiencies and enable other functions ranging from analytics to secondary selling to product recall automation."
"We believe this makes the afterBOT IP portfolio increasingly more attractive to a wide variety of companies directly engaged in consumer transactions in Retail, Hospitality, Health Care, Travel and Finance industries among others," said John Cronin, Managing Director of ipCLC, "as well as to the various third party service companies that provide analytics and other value add services for their clients."
afterBOT, Inc. licenses atomic level, real-time digital receipt based software technology along with patented solutions for the aggregation, management, and analysis of digital receipt databases across a wide variety of consumer and supply chain transactions and industry solutions. afterBOT was founded in 2000 and is privately held. afterBOT's investors include Chrysalis Ventures and, e-RM Ventures. For more information visit 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.