IPXI lists JPMorgan stored value card patents

Source: IPXI

Intellectual Property Exchange International, Inc. (IPXI), the world's first financial exchange for licensing and trading intellectual property (IP) rights, today announced the introduction of two offerings providing rights to patented technologies owned by JPMorgan Chase Bank, N.A.

In public web presentations on Oct. 16, 18 and 25, IPXI will provide details on its newest offerings based on two families of patents that include technological inventions related to the issuance and use of prepaid stored value cards.

The first Unit License Right™ (ULR™) contract offering relates to "any-purpose stored value cards" while the second relates to "sponsor-funded stored value cards." Whereas the any-purpose stored value card ULR contracts can be used for any type of stored value card, the sponsor-funded card ULR contracts are directed specifically toward payroll and government-issued cards. Each offering includes rights to 17 U.S. patents and four U.K. patents, with the earliest filed in 1998. Companies that purchase the ULR contracts within the first 90 days of the initial offerings will be granted full amnesty for any past use of the patented technologies.

Operating over credit networks, stored value cards are typically marketed as "prepaid cards," "prepaid debit cards," "cash cards," "purchase cards" or "payroll cards." According to industry resources, total dollars loaded on stored value cards reached nearly $200 billion in 2012.

IPXI will host three webinars about the new offerings at 1 p.m. Central time on Oct. 16, 18 and 25. Those interested in participating can register at www.ipxi.com/svc. Prior to and during the webinar, participants will have the opportunity to submit questions and comments, which will be addressed as time permits following the presentation. An Offering Memorandum for each offering will be made publicly available on the IPXI Electronic Trading Platform immediately following the Oct. 16 webinar, and additional information, including supporting documents, will be made available in a data room.

The patented stored value card technology will be listed on the IPXI Trading Platform in the form of ULR contracts, which are exchange-traded, non-exclusive license rights offered on a nondiscriminatory basis at market-based prd prices and with standardized terms. The contracts are priced and sold on a technology-unit basis to allow for easy monitoring of the adoption and use of the technology.

The webinar initiates each offering's official marketing period, which also includes visits to industry conferences and meetings with prospective investors and licensees. Each offering will be issued in three tranches: A, B, and C. Once Tranche A is subscribed with sufficient indications of interest, it will close. Tranche B will then be issued at a lesser discount to Tranche C than Tranche A. Trading will begin on IPXI's trading platform the day following the closing of Tranche A.

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