Xybernaut Corporation a high tech company currently in Chapter 11, has received court approval to sell its "Waypoint" group of patents at auction, with the objective of raising sufficient cash to come out of bankruptcy protection and successfully reorganize.
The "Waypoint" patent group sets forth technology and business processes to provide wireless direct mail by sending information to targeted mobile users at specific locations.
Xybernaut believes the Waypoint patents can allow wireless companies to provide location-based services to mobile devices such as cellphones, PDAs and portable computer devices. Locations can be focused in feet or miles, depending on the desired audience.
These services can include precisely-targeted ads, maps, restaurant locations, traffic reports and other useful information, all automatically queued off of the location and stated preferences of the holder of the wireless device.
Advertisers want to know that they are delivering the desired message to an interested audience at the right time and place. The Company believes that the Waypoint patents enable this exacting business solution.
While advertising has long supported access to radio and television broadcasts and much of the internet, Google has recently announced the first use of this model for wireless services
I wonder who buys these and for how much.