E-commerce Token Transaction System Patents Available for Sale or License on the Ocean Tomo Bid-Ask™ Market

CHICAGO, Jan. 27, 2020 /PRNewswire-PRWeb/ -- Ocean Tomo Transactions, LLC will auction a portfolio of five e-commerce token transaction system patents. The patented e-commerce token transaction system in auction lot 98 utilizes electronic tokens to facilitate e-commerce transactions between vendors, customers, and multiple service providers. Transactions can be settled online or offline in different forms, including micro-payments, standard purchases, and virtual currency.

Practice of the art identified in these patented assets results in several unique advantages. First, the e-commerce token transaction portfolio reduces transaction costs by eliminating the necessity to link with a third-party credit card or financial providers. Second, it can easily facilitate a seamless e-commerce transaction, i.e. gaming vendors can easily transact virtual currency through their portals. Third, the invention gives a vendor complete control over the sale and distribution of electronic tokens that may be used to purchase products and services from that vendor.

The patent portfolio has been licensed to about 80 companies across diverse industries such as financial institutions, e-commerce platforms, retail, and gaming. The current licensees range in size from small privately held entities to Fortune 500 companies. The portfolio's broad strength in the number of licenses and applicable industries provides further licensing opportunities in the fast growing industries of digital currency, gaming/virtual currency and e-commerce.

About the Ocean Tomo Bid-Ask™ Market

The Ocean Tomo Bid-Ask Market is an open on-line platform to buy and sell patents. This market is an important step forward, both as a simplified solution for patent transactions as well as a source of information on patent pricing. The Ocean Tomo Bid-Ask Market uniquely combines the efficiency of an online platform with an experienced team of brokers fluent in both English and Mandarin. The market uses standard transaction documents and is open, transparent and free to view.

SOURCE Ocean Tomo