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GTX Corp Awarded Broad U.S. Patents for its Innovative and Potentially Life Saving GPS Shoe Technology
Tuesday, February 23, 2010
Los Angeles, CA -- GTX Corp (OTC Bulletin Board: GTXO), a leader in customizable, 2-way GPS Personal Location Services (PLS) solutions was recently awarded three new U.S. Patents significantly increasing the Company's IP portfolio value.
Since the issuance of U.S. Patent RE 40,879, three additional patents have issued. All of these patent applications were filed to broadly cover fundamental aspects of providing a GPS location device in footwear.
- U.S. Patent RE 40,879 issued August 25, 2009 with 47 claims, including 4 independent claims.
- U.S. Patent RE 41,087 issued January 26, 2010 with 27 claims, including 3 independent claims.
- U.S. Patent 41,102 issued February 9, 1010 with 12 claims, including 6 independent claims.
- U.S. Patent RE 41,122 issued February 16, 2010 with 19 claims, including 8 independent claims.
"Combined, these broad patents have 105 claims, including 21 independent claims, which will pose a significant challenge for any competitor to operate in the GPS enabled footwear space without obtaining a license from GTX Corp," said Larry E. Henneman, Jr. Registered U.S. Patent Attorney.
The expansion of the Company's IP portfolio and specifically in the GPS shoe category is perfect timing as the Company is currently working with Aetrex Worldwide, Inc., a global leader in adult pedorthic footwear, preparing to bring to market the patented GPS enabled shoe dubbed the "Ambulator." The GPS Shoe will afford millions of caregivers the means to monitor those afflicted with Alzheimer's that become lost due to wandering. The GPS Shoe patents cover a GPS transceiver module that is placed within the footwear and transmission of location coordinates to a central monitoring station which disseminates the secure data through the use of proprietary software, cellular connectivity and the GTX Corp viewing portal.
Chris Walsh, GTX Corp COO and ex VP at Nike and Reebok affirmed, "Broad patents effectively creates more barriers to entry and blocks competition. We have been committed to a strong, ongoing IP strategy from day one and continue to invest in our future, offering protection and value to our investors, partners and licensees."
About GTX Corp
GTX Corp (GTXO.OB) a leader in embedded 2 way GPS real-time personal location services (PLS) was founded in 2002 and is based in Los Angeles, California. The Company has evolved from its early beginnings of putting micro GPS devices in a shoe and continues to pave the way with innovative geo specific and proximity alerting applications that help you know where someone or something is at the touch of a button. Committed to being the "better people finder," GTX Corp owns and operates LOCiMOBILE, Inc. which develops GPS Tracking applications for smart phones, Code Amber News Service and Code Amber Alertag. The Company has a comprehensive intellectual property strategy and owns an extensive portfolio of patents, patents pending, registered trademarks, copyrights and website properties. GTX Corp is well positioned to capture the PLS Market through its diverse product platform, licensing model, brand recognition and strategic partners.
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