LAS VEGAS, July 21 /PRNewswire-FirstCall/ -- Phoenix
Technology Holding Inc. and Schimatic Cash Transactions Network
Inc. (Pink Sheets: SCTN), dba Smart Chip Technologies, Inc.,
announced today that the companies have engaged Mr. Ed Radlo as their legal counsel in California and worldwide to design its patent
strategy.
Phoenix said that with guidance
from Radlo & Su, LLP, a world class patent law firm, it is
ensuring the protection of its patent rights. The company said it
is also creating improved revenue opportunities for existing
clients and identifying potential patent licensing opportunities.
"We will do this in relation to the patents granted to SCTN in
the United States (#5,806,045) as
well as opportunities relating to our existing patents in
Canada, Mexico, Japan
and Australia," reported
Bernard F. McHale, CEO of
Phoenix and SCTN.
Mr. McHale noted that, "Licensing inquiries have increased
following several public implementations of the Phoenix cashless stadium model. Many of the
companies with whom we are now working welcome the opportunity to
understand how the SCTN patent-protected technology is also a
revenue generating business model.
"Also, with our recent national publicity we have received many
more international licensing inquiries than we could comfortably
manage in-house. To license our technology, both within and outside
the US, we required a seasoned patent professional law firm.
Radlo & Su, LLP understands the balance we require
between identifying and licensing partners while respecting our
desire to strengthen existing players throughout the industry," the
technology executive added.
Mr. Radlo co-founded his firm in January
2010 after many successful years working across the spectrum
of intellectual property litigation, licensing and patent
prosecution www.radlosu.com. He is a Harvard Law graduate with a mathematics major
from MIT. Mr. Radlo worked as a law
partner at Sonnenschein Nath & Rosenthal LLP, based in
San Francisco, CA where he engaged
in all aspects of patent law, including prosecution, litigation,
and licensing. He is a member of the American Bar Association,
Intellectual Property Law Section, and former chairman of its
Patent Harmonization Subcommittee. His full biography is available
at Who's Who of American Law.
Mr. Radlo explained his firm's philosophy: "We have a deep
appreciation for the role that entrepreneurship
and intelligent risk-taking play in promoting better
economic conditions, and we are dedicated to doing our part to help
make the economy better for all of us. One of the goals of our firm
is to foster stronger ties among the business and inventive
communities of the United States
and other countries. We have an unparalleled set of strong
relationships with patent attorneys, patent agents, and sources of
capital in all the major countries of the world."
Mr. McHale noted that when Mr. Radlo worked in the patent group
of Fenwick & West LLP, he was foremost among the creative
legal minds which recognized the potential of the SCTN loyalty
solution. This was described in the original patent filings by
Fenwick & West in 1994 as: "...a method and system for
allocating and redeeming incentive credits on an integrated circuit
chip platform."
McHale also stated, "Licensing of the Phoenix Operating and
Deployment System with the SCTN Smart Chip Patented Loyalty
Technology inside is required in order for any party to operate a
loyalty program on a smart chip, mobile device, laptop or PDA in
countries where our software is patented. We have invested
several millions of dollars in developing our suite of software and
developing a Best of Breed Operating System to deploy this Patented
Loyalty Technology and protecting it is a very high priority for
us, our shareholders and our existing customers."
McHale concluded that, "The many businesses that use this kind
of technology, some quite large, are quickly moving to the much
more sophisticated credit and pin format. As debit cards
migrate globally to chip and pin from magnetic strip, this includes
credit card issuers, banks and financial institutions around the
world. The added security enhancements of a smart chip are
what Visa and MasterCard championed by mandating EMV (Europay,
MasterCard,VISA) migration. Chip and pin technology has many
more security capabilities than that of the traditional magnetic
strip."
About Phoenix US: It provides sales, client
implementation, hosting, development and systems support for
customer retention products allowing clients to deploy
sophisticated solutions easily and quickly. Phoenix US is the
exclusive licensor of Loyalty Central Patented Technology from
SCTN. See www.phoenix-tec.com to learn more about the
company.
About Smart Chip Technologies: It provides turnkey
customer retention solutions, including loyalty, pre-paid stored
value, punch cards and gift cards, that enable card issuers,
acquirers and merchants to take advantage of real time programs.
The SCTN program is a scalable, high performance, end-to-end
solution that uses an ASP model to customize the system's look and
feel to reinforce customer branding. See www.sctn.com to
learn more about this company.
Disclaimer:
Any statements contained in this document that do not
describe historical facts may constitute forward looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. Any forward-looking statements contained herein are
based on current expectations,but are subject to a number of risks
and uncertainties.
SOURCE Schimatic Cash Transactions Network Inc.
