Innovation
Fund LLC
Metropolitan Tower
146 West 57th Street, suite 33D
New York, NY 10019
Contact: Barbara Carver
Phone: 516-921-3100
For
Immediate Release
United
States Patent and Trademark Office
Board of Patent Appeals and Interferences Sustains
Innovation Fund’s Patent on Personal Video Recorders,
announces Donald Spector, Inventor and Chairman
Innovation Fund LLC (www.innfund.com) Chairman, Donald Spector, announced
today that the unique system of broadcasting television commercials
on Personal Video Recorders (PVR’s) and having the consumer
press a remote control in order to get a discount or promotional coupon
to the nearest retailer on their e-mail, has been sustained by the
United States Patent and Trademark Office Board of Appeals and Interferences.
“We believe this system will give advertisers
a better chance of viewership and interest than having consumers skip
through commercials, or trying to get technology to prevent them from
skipping”, stated Spector. “With the Innovation Fund system
people will be anxious to see products advertised that they can try
out or on which they will get special deals. All they have to do is
click their remote and a promotional offer will appear in their e-mail,
giving them a discount and a location of a nearby retailer,”
he added. “We have so much information available today and so
many people are competing for the consumer’s attention, the
only way to really breakthrough is with new technology. It would be
ironic if TiVo and other PVR systems that have long been thought to
be the demise of advertising supported television, ended up being
something that improves the advertising model. The trick is simple.
Give the consumer something special,” says Spector.
Another application to the system would be to set
up a separate home shopping system on one of the cable channels of
TiVo (NASDAQ: TIVO) or Time Warner (NYSE:TWX ) or one of the other
cable systems. In the new scenario the operator doesn’t even
have to carry inventory, all they have to do is advertise products
that may not be moving well in a local area and give the consumer
a special value. The e-mail will direct the consumer to specific retailers
and the redemption can be easily tracked for a transaction fee.
Donald Spector and Richard Speer, co-founder of the
Home Shopping Network, have worked together for about ten years on
other projects and still do business together. Richard’s father,
Roy Speer, sold the business several years back and has been listed
on the Forbes 400 of the wealthiest people in America.
“We are not sure what company would make the
best strategic partner for these exciting proprietary technologies,”
said Spector. “I was a little bit disappointed as an early shareholder
of TiVo that they did not make a deal to make their technology the
standard by selling out earlier. Nevertheless, they are the brand
name. On the other hand, I am a shareholder and big believer in the
financial and stock turnaround of Time Warner.”
Innovation Fund works with some of the largest companies
in the world and sees its portfolio in new advertising technologies
and geo-positioning based advertising as the future of advertising
supported content.
Innovation Fund LLC owns proprietary technologies
from Computer and Satellite technologies to Consumer products and
Entertainment properties. It licenses to or joint ventures with Fortune
500 companies and is a worldwide leader in innovation.
FOR MORE
INFORMATION, PLEASE CONTACT: BARBARA CARVER AT 516 921-3100 OR VIA
EMAIL AT bcarver@innfund.com
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