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GTT to Sell Network Transactions Portfolio

Portland, OR

Global Technology Transfer Group, Inc., (GTT), a leader in patent asset management services, has announced the availability of a patent portfolio dealing with improved security of personal information when performing network transactions. This portfolio is entitled “Network Transaction Patent Portfolio” and consists of one US patent.

The key point of novelty of the patent relates to the creation and use of a digital verification insignia for utilization in networked transactions. The digital verification insignia can be used in a similar fashion as credit card numbers, PayPalTM or Google CheckoutTM accounts, and serves as an identifier that verifies the user is able to fulfill his obligation in the transaction. The digital verification insignia is a unique transitory insignia that is valid only for the single transaction and expires after a pre-specified time.

Digital security is becoming increasingly important as more transactions are conducted online and identity theft continues to be a risk. Prior to secure socket layer (SSL) technology, users that entered their bank account information for digital transaction ran the risk of an interception of the transmission of their data. A major advantage of the patent’s technology is that it is fully compatible with traditional transactional systems as well as recent programs by banks intending to increase both user convenience and security for networked transactions.

GTT has analyzed the patent portfolio and prepared a detailed marketing report highlighting the technology, potential markets and presented examples of Direct Evidence of Use. For access to this information, please contact GTT.

“Secure transactions and identity protection are fundamental in an ever expanding online marketplace,” said Michael Lubitz, Chairman and CEO of GTT. “Online merchants, lending groups, and credit card businesses all have major interest in this technology and will benefit from purchasing this portfolio.”

To receive more information about this opportunity or to obtain a copy of the Telecommunications Patent Portfolio Marketing Report, please contact Andrew Godsey at: agodsey@gttgrp.com

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