A Great Idea For the Patent Industry And Corporate America

Finally.

While I believe patents are the "new asset" and visionary thinking should be protected, I also think some of these patent trolls should be deterred from others that are actually implementing a good idea.

Here's a perfect example of how a patent owner could have been devastating to the American economy

From Arstechnica Bill could disrupt the patent industry.

A new bill introduced in the House of Representatives attempts to deter frivolous patent litigation by forcing unsuccessful patent plaintiffs to cover defendants' legal costs.

"Patent trolls don't create new technology and they don't create American jobs," DeFazio said in a news release. "They pad their pockets by buying patents on products they didn't create and then suing the innovators who did the hard work and created the product."

In the mean time, please find a list of Patent Play Stocks.


The tool that turned $10,000 into $2,800,000 in 2 years. HowToFindBigStocks.com

Will 3D Printing Disrupt The Patent Industry?

 Could a 3d prototype replace drawings for patents?

Would the prototype show the original concept?

Could the code that is used to create a prototype be submitted as part of the patent?

Let's face it, unless you're a patent attorney or have an engineering background, a patent is very difficult to decipher. Seeing what the patent "does" using a prototype might solve a lot of the issues we face today.

3D Printer has a great story on why 3D printing and inventors may be a perfect match?

To adapt a cliché, one polished, functioning 3D prototype is worth a thousand words during a pitch to potential investors (who can pay for the patenting process, if desired) or a potential retailer.

 Another possible advantage of prototyping is if the product proves less than ideal on use, the inventor can test and optimize. It’s never a bad thing to hit the market with the most functional expression of a new idea.

I wonder how this could affect the patent submission process?

(My view)
3d printing opens a world of opportunity for entrepreneurs and inventors.
"manufacturing" isn't dead in the U.S., it is very much alive. Gone are the days of big buildings making widgets replaced with a 3d printer and a little creativity.



The tool that turned $10,000 into $2,800,000 in 2 years. HowToFindBigStocks.com

Two Companies Poised To Benefit From Facebook IPO

In this month's How To Find Big Stocks Newsletter, we highlight 2 companies hidden from Wall Street that are poised to benefit from a $100B investing wave (FacebookIPO).

 

It's no secret the patent war has started!

 

We found 2 microcap companies with intellectual property that will be required for Facebook to continue growing their business.

 

 One of the top patent licensing companies (generated hundreds of millions in licensing revenue) in the world has asked to be in charge of their patent portfolio. 

 

This company is completely hidden from Wall Street's radar.

 

Find out who these companies are, and more with the How To Find Big Stocks Newsletter.

The tool that turned $10,000 into $2,800,000 in 2 years. HowToFindBigStocks.com

Patents Are Becoming The New Asset

Here's another company that has found licensing (or notifying infringers) is a better way to generate revenue than manufacturing. There are over $1 trillion dollars of assets that could be monetized in this country.

This IP is an asset is an investing trend I identified in my book. Find out what companies will prosper from this upcoming wave.

TiVo announces a $215m settlement from AT&T.

the only way TiVo has really made money in recent years was through patent lawsuits, followed by lucrative settlements. 


"This is a great book with big ideas on how to create wealth, not just get rich quick". HowToFindBigStocks.com

Forrester Research Likes SingleTouch's Abbreviated DialCode Technology

 Forrester Research listed SITO's Abbreviated DialCode Technology as a one of 4 "Technologies to Watch"

Abbreviated Code Technology I highlighted to good parts of the press release.

Also note that Single Touch System is listed as one of our Patent Play Stocks


The tool that turned $10,000 into $2,800,000 in 2 years. HowToFindBigStocks.com

Aeritas Reacquires Mobile Barcode Patent Portfolio And Becomes A Physical World Connection Player

From All Pay News Aeritas reacquires mobile barcode patent portfolio from GTech

With this mobile barcode patent portfolio, Aeritas is added to the Physical World Connection company list

Aeritas, the Mobile Barcode Company reacquired its extensive mobile barcode patent portfolio from GTECH Corporation, (a wholly-owned subsidiary of Lottomatica S.p.A., traded on the Italian Stock Exchange (LTO).

The Company's principals pioneered the mobile barcode and mobile ticketing space.

Aeritas' patents and technologies enable 1D and 2D barcode and other images to be displayed on the screens of mobile phones and handheld devices and used for a wide range of payment, mobile ticketing and other transactions.

Its patents, including many granted as well as several still pending in the U.S. and 30 other countries, cover a broad range of mobile applications.

The Company's patents and technologies encompass processes that enable 1D and 2D barcode and other images to be displayed on the screens of mobile devices and used for a wide range of payment, mobile ticketing and other transactions. (In my opinion, because a mobile barcode will/can be on various displays/items, these patents appear to have more value than just connecting the barcode to the net).

Aeritas' patents and technology encompass systems and methods that enable images, such as 1D and 2D barcodes, to be transmitted and displayed on the screens of mobile devices, including cell phones, PDAs, Blackberry and other handheld devices as well as laptop computers.

Aeritas' patented techniques, already in use, are revolutionizing new paperless transactions for sports, concert and event mobile ticketing, airline, train and bus tickets and boarding passes, mobile payments, retail coupons, prepayments and customer loyalty promotions, and a wide range of other uses.

Electronic Frontier Foundation (EFF) Refiles Patent Exam Request Of NeoMedia's "Bogus Patent"

The ongoing saga with the Electronic Frontier Foundation (EFF) and NeoMedia continues.

Back in April the EFF asked the US Patent office to review NeoMedia's mobile barcode patent.

The EFF took aim at a bogus patent threatening innovative technologies that enhance consumer awareness, requesting a reexamination by the United States Patent and Trademark Office (PTO).

Apparently the EFF incorrectly filed the review and the Patent Office rejected the request for review in late July. This is completely different from the Patent Office approving the patents, as some have suggested.

Just a few days later, the EFF refiled a request to review NeoMedia's patents.

It was also confirmed on page 43 of NeoMedia's latest 10Q filing

"Also on the patent front, during July 2007 the US Patent and Trademark Office rejected an application by the Electronic Frontier Foundation to invalidate the Company’s patents and intellectual property on how camera phones read, translate, and process images and codes. The Electronic Frontier Foundation refiled their application in August 2007"

I couldn't find a separate press release from NeoMedia announcing this.

ScanBuy and NeoMedia have an ongoing lawsuit regarding this intellectual property and a Markman hearing is scheduled for November.

Here's what I ponder.

Would, or should, a judge render a decision in a case on a patent that is currently being reviewed by the US Patent Office?

If the Patent Office does decide to review the patents, who has the most to lose, NeoMedia or Cornell Capital?

Neomedia's Mobile Barcode Patent Challenged

Until patents have been proven in court, shouldn't they be used as a defense of a business or application?

When companies wave their patents around, until they have been proven in court, doesn't this stifle innovation?

Last Fall the EFF asked for help in debunking a barcode patent.

Today they announced they would be officially challenging it.

EFF Challenges Bogus Patent Threatening Consumer Awareness Products

llegitimate Patent Inhibits Innovation in Market for Mobile Information Access

San Francisco - The Electronic Frontier Foundation (EFF) took aim today at a bogus patent threatening innovative technologies that enhance consumer awareness, requesting a reexamination by the United States Patent and Trademark Office (PTO).

NeoMedia Technologies, Inc., claims to own rights to all systems that provide information over computer networks using database-like lookup procedures that rely on scanned inputs, such as a barcode. NeoMedia has used these claims not only to threaten and sue innovators in the mobile information space, but also to intimidate projects focused on increasing awareness among consumers about the social and environmental impact of the products they buy. (red print emphasis is mine).

Numerous Physical World Connection (PWC) companies have expressed concern that this company, and their supporters, are doing just that. (my comment separate from the EFF story)

For example, the Consumer Information Lab at the College of Natural Resources at the University of California at Berkeley uses such technology to examine how health, environmental, and social information affects consumers' shopping behavior and decision-making. Were NeoMedia to control the patent rights to this technology, such projects could be severely limited and potentially shut down.

NeoMedia should not be allowed to use this bogus patent to inhibit consumer awareness, education, or research into the impact of information on consumer choice," said EFF Staff Attorney Jason Schultz. "This is the opposite of 'progress,' something the patent laws are supposed to promote."

EFF's reexamination request shows that the functionality covered by NeoMedia's bad patent was repeatedly included as part of prior patent applications from other companies -- demonstrating that the idea of forming a network connection from scanned items was well-known before NeoMedia made its claim. EFF, in conjunction with Paul Grewal and James Czaja of Day Casebeer Madrid & Batchelder, ask the PTO to revoke the patent based on this and other evidence.

For the full NeoMedia patent reexamination request:
http://www.eff.org/patent/wanted/patent.php?p=neomedia

Companies interested in this EFF story might also find this of interest.

Who really "owns" the intellectual property in question?

According to NeoMedia's latest financial filing,

On Page 18 ">All Of The Company’s Assets Are Pledged To Secure Certain Debt Obligations, Which The Company Could Fail To Repay

Pursuant to secured convertible debentures, dated as of March 27, 2007, August 24, 2006 and December 29, 2006, in the principal amount of $7,459,000, $5,000,000 and $2,500,000, respectively, issued to Cornell Capital Partners, LP, the Company was required to secure such secured convertible debentures’ repayment with substantially all of its assets. In the event the Company is unable to repay the secured convertible debentures, it could lose all of its assets and be forced to cease its operations. If the Company is found to be in default under the debentures, the full principal amount of the debentures, together with interest and other amounts owing, may become immediately due and payable. As of December 31, 2006, the Company was in default of a covenant contained in the financing agreements due to the Company’s pending registration statement to register the underlying shares of the convertible instruments not becoming effective by the specified date. (bold print emphasis is mine)

On Page 21
At December 31, 2006 and 2005, approximately 57% and 39%, respectively, of NeoMedia’s total assets used in continuing operations were intangible assets and goodwill, consisting primarily of rights related to NeoMedia’s patents, other intellectual property.

This should develop into an interesting story.

Comments are welcome, but before I get bombarded, note I am not a patent attorney.

In this case, judication appears to rest with the courts.