Vitek IP Announces the Availability of Augmenting Reality Patent Portfolio
By: Vitek IP
The Augmenting Reality patent portfolio contains 12 U.S. patents within 6 patent families. iPointer, founded in 2003, was a pioneer in the geographic-aware Augmented Reality space, spending $5M million in R&D and patent development. The 12 issued U.S. patents disclose identifying and displaying information by pointing a mobile device to locations, such as objects of interest and landmarks. The 12 patents are applicable to major companies within Augmented Reality, Virtual Reality, and cloud database technology spaces. The portfolio is used in many AR and VR applications, including maps, games, and location-based services.
The claimed technology is utilized in annotating the real-world, themed location-based maps, annotated map details, AR software kits, and AR gaming solutions. The AR technology is additionally utilized in developing market offerings provided by Global 100 companies, including augmented reality headsets and glasses. The AR/VR market is larger than $10B worldwide and is projected to grow 4x over the next four years.
A key patent family covers augmented reality and virtual reality offerings provided by major market players. Claims are directed to selecting and delivering geographic information to a mobile device. The location and orientation of the mobile device is used, along with a theme, to narrow the geographical information selected to make it more pertinent to the user.
Additional patent families cover the features required by cloud databases to support spatial queries which select and narrow information from the database. Claims are directed to selecting unique geographic features utilizing a user position and user orientation, which determines a search polygon in a database. A set of geographic objects in the database that coincide with the polygon are filtered and information for the selected object is returned to the user. Spatial databases used by major market players utilize the disclosed claim methods, with predominantly cloud-based systems used by AR and VR solutions. The applicable cloud database market for 2019 is $10B and projections for 2023 are for the market to grow as large as $22B.
Given the ubiquity of geo-AR features used by the AR/VR industry, and the portfolio's early priority dating back to 2003, the patent portfolio exhibits inherent market value, both presently and in the future. The Augmenting Reality patent portfolio is being offered to a limited number of potential buyers. Offers for the patents will be reviewed as they are received, and the patent owner intends to finalize a transaction at the beginning of 2020. To receive an overview of the portfolio or detailed market materials, contact us via email at firstname.lastname@example.org.
About Vitek IP, LLC. Founded by a team with over four decades of experience in IP and tech, Vitek's patent consultancy, brokerage group, and research organization provides clients exceptional guidance navigating the patent landscape. Vitek team members have developed and managed hundreds of patent transaction engagements for the world's largest telecommunications, software, and computer companies. For more information, visit www.vitek-ip.com.