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Patented Protection Against Counterfeit Pharmaceuticals and Retail Fraud. ICAP Patent Brokerage Announces for Auction a Patented System for Verification of Purchase and Product Legality
Date:3/7/2012

LOS ANGELES, March 7, 2012 /PRNewswire/ -- ICAP Patent Brokerage, a division of ICAP plc and the world's largest intellectual property brokerage firm and organizer of ICAP Ocean Tomo Auctions, is offering for auction a patented system for verification of purchase and product legality from Barcode Security Systems Inc. The lot will be included in the 15th ICAP Ocean Tomo IP Auction on March 29, 2012, at Terranea Resort near Los Angeles, California.

(Logo: http://photos.prnewswire.com/prnh/20100614/CG20517LOGO)  

Key Characteristics & Benefits
This patent portfolio discloses a technique for verifying the legitimate purchase of a retail item.

  • At the point of purchase, an encoding device writes or otherwise provides unique machine-readable markings on the label (e.g., a barcode or an RFID tag).
  • When a customer returns the item for refund or exchange, a detecting device/reader analyzes the label for the presence of the unique markings (which, for added security, could be invisible to the human eye).
  • Presence of these unique markings can provide the retailer with important information such as whether the item was validly purchased, whether or not the item is eligible for a refund or exchange, purchase location, date and time of purchase, method of payment, etc.
  • This information can be obtained without the requirement of a customer provided receipt.
  • The disclosed technique can be implemented in POS devices in multiple industries including: pharmaceutical, retail, electronic, automotive and aerospace.

Market Potential
This IP is an important portfolio for manufacturers of barcode printers and scanners as well as RFID tags/readers for different industry applications including retail, food and beverage, pharmac
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SOURCE ICAP Patent Brokerage
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