techDaily.info :: NeoMedia Technologies, Inc., Sees Its Growing Patent Portfolio as 'Core Compnent' of Immediate and Long-Term Growth

Tuesday, January 06, 2009

NeoMedia Technologies, Inc., Sees Its Growing Patent Portfolio as 'Core Compnent' of Immediate and Long-Term Growth

Posted: 2/21/2003

Posted By:	The Kaminer Group		Contact:	David Kaminer
Phone:	9146841934		Email:	dkaminer@kamgrp.com

FORT MYERS, FL, Feb. 21, 2003 -- NeoMedia Technologies, Inc. (OTCBB: NEOM), an innovator and international leader in technologies which make information faster and easier to access, said today that it views its growing patent portfolio as a "core component" of its strategic plan for 2003 . . . and beyond.

"Traditionally -- if there is tradition in an industry as young and dynamic as Information Technology, smaller companies have often been the pioneers, with larger companies having the marketing muscle and financial wherewithal to successfully launch and bring products to market," said Chas Fritz, NeoMedia founder and chairman. "Such has been the case with NeoMedia, as we were awarded patents and earned a worldwide reputation for our print-to-Internet innovations.

"NeoMedia now has five patents, including our newest one, which eliminates the need to link to the Internet for information traditionally found there."

U.S. Patent 6,434,561, issued in August 2002, deals with improved methods of converting information placed directly on a physical object into PC-readable data utilizing two-dimensional bar codes pioneered by industry leader Symbol Technologies, Inc., (NYSE: SBL) and various data compression techniques, along with software and desktop image scanners. Each 2 to 3-inch bar code can hold 2 to 3KB (equivalent to 2 to 3 printed pages), depending on the data compression technique used.

One example of how NeoMedia's new technology can be used is in banking, where such a two-dimensional bar code would appear on a bank statement. Then, using software and an image scanner -- and without linking to the Internet -- the user could easily and accurately import the bank statement information into Quicken®, Microsoft® Money, etc. The bank would save by not having to store the information online, and the user would save time -- and possible errors -- by not having to re-key.

Dr. Kevin Hunter, the company's chief scientist, and NeoMedia's former executive vice president, Robert T. Durst, Jr., developed the technology for which this patent was issued.

NeoMedia's four previous patents pertain directly to linking documents, physical objects and transactions directly to Internet-based information, using a variety of auto-ID technologies including bar code scanners, RFID, voice recognition, and magnetic stripe cards.

‘Major Profit Opportunity'
"Our robust portfolio protects technologies which use interfaces very much in demand today, particularly RFID and voice," said Fritz. "These and many other indexing methods are required by many of the top IT companies worldwide. We believe our patents represent a major profit opportunity, especially as applications using RFID and voice grow in acceptance -- and in sales -- at rates exceeding industry growth overall."NeoMedia's strategic goal of having its portfolio of patents and other intellectual properties as profit centers is "not new . . . not new at all," said Fritz. "Much as any pioneer, NeoMedia has been ahead of its time, ahead of the curve," Fritz said. "Now, many major IT companies here at home and around the world need the technologies we developed to keep their own products ‘leading edge'.

"NeoMedia's patents substantially strengthen our intellectual property rights to products, systems and methods," he said. "As the rest of the IT world ‘discovers' applications we invented, developed and patented, NeoMedia will aggressively develop this rapidly emerging market as well as license our technology, as appropriate, while our intellectual property position continues to reinforce our early vision and initiative.

"You can't pick up a newspaper today without reading about patent infringements by major companies," he said. "Our patented technologies are in demand, and we are aggressively working to protect them," noting that more than a year ago NeoMedia took a major step toward achieving our strategy to merchandise its patents "by joining forces with a recognized leader in the IP field (see "NeoMedia Contracts with Baniak Pine & Gannon to Help License and Protect its Intellectual Property Portfolio," Business Wire, Feb. 1, 2002)."

About NeoMedia Technologies
NeoMedia Technologies, Inc. (www.neom.com) develops technologies that link physical information and objects to the Internet, marketing services under the PaperClick™ trademark. In addition, NeoMedia's Systems Integration Group specializes in Open & Storage System solutions and automating print production operations.

This press release contains forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. With the exception of historical information contained herein, the matters discussed in this press release involve risk and uncertainties. Actual results could differ materially from those expressed in any forward-looking statement.
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PaperClick is a trademark of NeoMedia Technologies, Inc.
Quicken is a registered trademark of Intuit Inc.
Microsoft is a registered trademark of Microsoft Corporation.

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