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afterBOT Awarded Fourth Patent for Secondary Selling Using Digital Receipt Links Across Sellers
Thursday, February 09, 2012
Norcross, GA -- afterBOT, Inc., the leader in digital receipt technology and services, announced today that it has been awarded U.S. Pat. No 8,112,356. The patent extends afterBOT's existing intellectual property (IP) portfolio directly into eCommerce and adds a valuable commercialization 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 fourth U.S. patent, entitled "System and Method for Automating Secondary Purchase Opportunities to Consumers" covers an invention related to a user of a database of digital receipts across a plurality of buyers and a plurality of sellers being able to initiate a sales transaction for a secondary purchase by activating, for example, a hyperlink on the original digital receipt. The secondary purchase can be with the original seller, an authorized third party reseller, or any of the other sellers in the system. The automation can also alternatively present a detailed offer when the link is activated, which can then be activated to close the sales transaction. In combination with afterBOT's other IP, this new patent provides buyers and sellers a wide variety of commercial opportunities to use digital transaction receipt data to extend consumer and business sales across existing and new electronic distribution channels, partnerships, markets and product categories and link and execute valuable post sales service transactions like suppliers, shipping charges, extended warranties, financing, and replacement parts across various, unique companies.
This patent enhances significantly the value of afterBOT's IP portfolio, which includes three other related U.S. patents (U.S. Pat. No. 7,552,087 awarded in 2009, U.S. Pat. No. 7,742,989 awarded in 2010, and U.S. Pat. No. 8,001,046 awarded in 2011), as well as additional pending patent applications covering strategic inventions.
"We believe that this new patent considerably enhances the utility, and value, of the afterBOT system for aggregating digital receipts for consumers and businesses across a wide variety and large number of participants in eCommerce. Consumers could execute add-on purchases directly from a link on their digital receipts, from their original seller, or another seller partnered with the original seller or any third party seller in the system. In the case of a more complex product or service the Consumer could receive a more detailed offer with an executable link for buying. Secondary purchase opportunities can occur across a timeline from immediately after a purchase, when the need for a related product or service may be required or most obvious, to months, or years, later, when an upgraded product, replacement part, supplies, or various return, warranty, repair or recall services may arise. It is quite conceivable that the secondary selling links on the original digital receipt may change over time, as the transaction ages, companies, channels and partnerships change, and the buyer's needs evolve and are tracked across their other purchases."
"afterBOT continues to improve the reach and value of its IP portfolio," said John Cronin, Founder of ipCLC. "By adding a patented system and method for the various buyers and sellers to connect and execute new, incremental business transactions across the afterBOT system, licensees will have considerable upside return on their IP license investment. We believe this makes the afterBOT portfolio even more attractive to an enormous variety of companies directly engaged in consumer transactions in Retail, Hospitality, Travel and Finance industries among others, as well as the service companies that provide analytics and other value add services for their clients."
About afterBOT
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 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.
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