IPXI® Announces Offerings for Stored Value Card Technology
Exchange Brings to Market License Rights for Prepaid Stored Value Card
Technology Owned by JPMorgan Chase Bank, N.A.
Public Web Presentations to Provide Details on Oct. 16, 18 and 25
CHICAGO, Oct. 9, 2013
CHICAGO, Oct. 9, 2013 /PRNewswire/ --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 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.
IPXI is the world's first financial exchange for licensing and trading
intellectual property rights. The mission of IPXI is to meet the price
discovery, transaction efficiency and data distribution needs of intellectual
property owners, investors and traders by creating the central marketplace for
tradable IP assets. IPXI is funded by a group of U.S. and European investors,
including CBOE Holdings, Inc. (Nasdaq: CBOE) and Koninklijke Philips N.V.
(Philips) (NYSE: PHG). IPXI members include some of the world's leading
innovative corporations and most prestigious universities and national
laboratories. Among the IPXI members are: Ford Global Technologies, LLC;
Philips Intellectual Property & Standards; JPMorgan Chase Bank, N.A.; Sony
Corporation of America; Panasonic Intellectual Property Corporation of
America; the Regents of the University of California; Columbia Technology
Ventures; Northwestern University; Lawrence Livermore National Laboratory and
Fraunhofer-Gesellschaft. For more information on IPXI, please see the Exchange
Fact Sheet or visit www.ipxi.com.
SOURCE Intellectual Property Exchange International, Inc. (IPXI)
Contact: Ellen G. Resnick, Crystal Clear Communications, (773) 929-9292; (312)
399-9295 (cell), eresnick@crystalclearPR.com
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