Local Corporation Granted New Ad Monetization Patent
Strengthens Intellectual Property Portfolio and Addresses Online Advertising
Market Expected to Reach $182 Billion by 2017
IRVINE, Calif. -- June 4, 2014
Local Corporation (NASDAQ: LOCM), a leading local advertising technology
company, today announced that the U.S. Patent and Trademark Office has granted
the company its thirteenth patent, which covers an online advertising
monetization and yield optimization method and/or system.
Issued on May 13, 2014, patent number 8,725,572 is directed to a technique for
locating relevant advertisements through the use of semantic keyword searches
with claims directed to software, systems and methods in which semantically
related keywords may be used to locate relevant fee generating advertisements
that may monetize better than other available response ads.
“We are pleased to expand our robust portfolio of intellectual property with
this latest ad monetization patent,” said Fred Thiel, Local Corporation
chairman and chief executive officer. “The online advertising industry
continues to show strong growth, and we believe that our advertising
technology, in combination with our growing intellectual property portfolio,
will position us well to lead in this sector. We look forward to unlocking the
value of our IP and leveraging this patent to further monetize and optimize
traffic and advertising across our Owned and Operated properties and Network.”
The company now has 13 patents issued, including four patents related to
search/menus, five related to pay-per-call and one focused on local shopping,
with several additional patents still pending. The company is conducting a
comprehensive review of the various advertising models used across the
industry today that may be utilizing this patented yield optimization
The company recently announced that as part of its patent strategy, it is in
the process of transferring the majority of its issued patents to a dedicated
IP holding subsidiary, which provides a more flexible solution and enables the
company to better leverage the value of its intellectual property.
Additionally, the trial date for the company’s ongoing Fry’s Electronics
patent litigation has been set for July 15, 2014.
According to Borrell Associates, the U.S. online advertising market continues
to grow and is expected to reach $182 billion by 2017.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading local advertising technology
company that connects millions of online and mobile consumers with businesses
and products through a variety of innovative digital advertising solutions.
The company’s patented Krillion® local shopping platform aggregates, localizes
and distributes dynamic, national and regional retail shopping content, from
approximately 120,000 store locations, representing nearly 3 million localized
products. For more information, visit: http://www.localcorporation.com or
http://www.krillion.com. To download the company’s iOS® 7-compatible Havvit™
shopping app, go to: iTunes® (http://bit.ly/1d8Y111).
Forward Looking Statements
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upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
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Kirsten Chapman, 415-433-3777
Cameron Triebwasser, 949-789-5223
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