Ocean Tomo to Offer Several Strategic Patents on E-Commerce and Transactions Systems at October 30th Auction in Chicago

Featured Technologies Include Enhancements to the Online and Mobile Shopping Experience, Insurance On-Demand Transaction Management System and System for Correcting Credit Report Errors

Ocean Tomo Auctions – the auctions arm of Ocean Tomo, LLC, the leading Intellectual Capital Merchant Banc® firm – today announced it will offer several strategic and essential patents related to Online & Mobile Commerce and Transactions & Financial Services at its upcoming Live Intellectual Property Auction at the Chicago Cultural Center on October 30th. Patent assets placed on the block disclose inventive technologies such as social e-commerce, transactional authentication using a mobile device and knowledge token and a web-based insurance on-demand transaction management system.

Several innovative offerings related to e-commerce systems and security are included in the Online & Mobile Commerce category. Among them, Lot 36 allows for a more convenient and less confusing online shopping experience by improving the interface of each step in the shopping and check-out processes; Lot 38 relates to a system allowing a user to complete a number of transaction types (i.e., online shopping, securities trading, etc.), via a personal cell phone, with convenience and security; and Lot 38a is directed to the field of social e-commerce, allowing shoppers to form groups determined by a commonly desired product, potentially accumulating demand and increasing buying power.

Patents in the Transactions & Financial Services category may be useful to credit card companies, insurance companies, investment banks, financial advisories, database software providers and others. Forward citing companies include American Express, JPMorgan Chase & Co., Accenture, Citigroup, PayPal, General Electric Company and Thomson Reuters Group. For example, Lot 50a pertains to the management and facilitation of transactions that take place between insurance companies and their customers and to providing insurance on an intermittent, as-needed basis; Lot 51a relates to a method for correcting credit report errors in conjunction with processing a loan application; and Lot 53, which relates to the fields of asset, construction, and investment management, allows companies to analyze bids more efficiently utilizing a method for calculating an intrinsic rating for each vendor that is based on general strength and performance.

“The practical technologies offered in the e-commerce lots help the consumer shop online more effectively and with more confidence by assuring them that their personal data is secure – a common concern for anyone who submits sensitive information while shopping virtually,” said Andrew T. Ramer, President of Ocean Tomo Auctions. “In addition, the financial services assets in the auction have the potential to significantly streamline the processes used throughout the industry, making time-consuming, yet essential, tasks, such as obtaining insurance or correcting credit information much easier to carry out.”

For a full listing of all Lots included in the Online & Mobile Commerce and Transactions & Financial Services categories, visit http://www.oceantomoauctions.com/OTA_Catalogue.asp?eventid=102008.

For more information on any of the Lots or to register to bid or attend the event, please contact us at 312.377.4851 or auctions {at} oceantomo(.)com or visit www.OceanTomoAuctions.com.

About Ocean Tomo Auctions:

Ocean Tomo Auctions (www.OceanTomoAuctions.com) – the auctions arm of Ocean Tomo, LLC, the leading Intellectual Capital Merchant Banc® firm – has received global recognition as the premier forum for the live auctioning of intellectual property assets. The firm holds multiple live auctions annually in Europe, Asia and the United States, benefiting sellers such as C-level executives, Fortune 500® IP and business professionals, individual inventors, SMEs and investors. Hundreds of key decision makers in the intellectual property, technology and financial communities attend and participate in the two-day auction events. Ocean Tomo Auctions has been featured on CNBC, Bloomberg TV, The Wall Street Journal, Barron’s, Red Herring, BusinessWeek, Reuters and many other media outlets.

Contacts

Ocean Tomo, LLC
Wendy Chou
718.812.6707
wchou {at} oceantomo(.)com