SALT LAKE CITY--(BUSINESS WIRE)--ADASA Inc. of Eugene, OR (“ADASA”) has selected the Utah investment fund Accelerate Ventures, LLC (“AV”) as its agent to facilitate licensing of ADASA’s intellectual property in the Radio Frequency Identification (“RFID”) space. AV will provide capital to the licensing venture along with expertise in the areas of product and market research, sales, PR and marketing, legal strategy, and enforcement. ADASA is a pioneer in developing RFID technology including the 2007 award-winning mobile RFID encoders and anti-counterfeiting solutions for retail merchandise as announced in RFID Journal in December 2010.
ADASA was also the first to solve the tag serialization problem for the retail industry’s early adopters; ADASA achieved their tagging objectives without any dependence upon notoriously unreliable network connections to serial number servers. The solution that ADASA developed for a major retailer was patented by ADASA in US Patent 8,228,198, issued in July of 2012 (the “’198 Patent”). The teachings and claims of this patent are the basis of the GS1 guidelines for global serialization. Manufacturers and retailers worldwide are now using the technology covered by the ’198 Patent.
Regarding the widespread adoption of the ’198 technology, ADASA President Clarke McAllister observes, “On one hand, it is flattering that so many have seen the benefit of our technology and it is exciting to be an integral part of global retail inventory management solutions. On the other hand, we would like to see more adopters recognize the value of our years of research and development by licensing the ’198 technology properly as a partner now and into the future.”
Speaking to the strength of its alliance with ADASA, AV Managing Director Ed Bruno states, “ADASA is the perfect partner and meets all of our stringent criteria for representation. ADASA has everything we look for: disruptive technology that will benefit providers as well as consumers, extremely well drafted and prosecuted patents, a true business built around the patents, a desire for adoption of the technology into the market, and not insignificantly, a great reputation in the industry. What is also evident is the appetite for the technology in the market as evidenced by the high rate of adoption and use by many companies, many without permission.”
In turn, ADASA President Clarke McAllister commented, “ADASA is fortunate to have the experience and expertise of AV as a business partner. As with many emerging companies, partners like AV are needed to educate the market on the significance of our technology, to facilitate licensing of that technology, and to protect the IP surrounding our technology if needed. AV is always professional and extremely prepared. Their exhaustive approach in understanding the business of potential licensees creates licensing opportunities that benefit both the technology users and ADASA as the inventor of the IP.”
About Accelerate Ventures
Accelerate Ventures is a Utah-based company that most recently represented the eTAGZ patent portfolio for attaching digital media to retail products. A rising player in the technology licensing industry, Accelerate Ventures focuses on representing companies whose intellectual property is solid, proven, and threatened by infringement. Licensees have lauded the professionalism, preparation, and integrity of Accelerate Ventures’ team as a refreshing approach that brings true value to the licensee.
About ADASA
ADASA Inc. is headquartered in Eugene, Oregon and develops intellectual property and solutions using radio frequency identification (RFID). Specialties include robotic RFID reading solutions, RFID serialization, anti-counterfeiting, encryption, security, privacy, omni-channel retail, and mobile encoding.