Fisher maintains that about a half dozen companies she pitched her idea to have tried to copy her technology, which embeds a near field communication microchip into stickers that attach to the back of smartphones. When held up to a NFC receiver that accepts MasterCard, the sticker debits funds from bank or credit accounts or loads retailer information such as coupons. Fortunately, her patents will protect the idea as well as allow her to collect licensing fees and royalties from companies that continue to use her intellectual property. Blaze Mobile has received roughly $7 million in funding over the past six years from angel investors to further develop the technology. Maintains Fisher: “Your intellectual property is a form of revenue that will attract investors.”
Clayton Redmon, CEO of Dallas-based StreamVenue Healthcare L.L.C., says: “Getting a patent only costs about $10,000, but enforcing your patent is what costs millions of dollars.” His main product, StreamingOR, uses software and instrumentation that plugs into the endoscopy, X-ray machine, and other auxiliary equipment in operating rooms to securely stream video, photos, and vital information in real time anywhere in the world. StreamVenue is able to install its technology in hospitals for $5,000 with a monthly fee ranging from $1,500 to $2,500, while installation for its competition can start at $35,000 and top $2 million in some instances.
StreamingOR uses H.264, a common video-encoding technology needed to view high-definition video if an Adobe Flash plug-in is not loaded. This is useful on iPhones, iPads, and newer browsers. H.264 is a codec standard licensed by MPEG LA, a consortium of tech companies that licenses patent pools for use in video technology. As a licensee, MPEG LA agrees to legally protect StreamVenue from poachers who try to steal his concept, says Redmon, who owns 55% of StreamVenue Healthcare with the remaining stake in his company held by independent surgeons, management groups, and banking executives. The company recently signed a nonexclusive channel development agreement with Ausmedical L.T.D. in the Netherlands and Australia.
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