|By PR Newswire||
|January 29, 2014 07:00 AM EST||
CAMBRIDGE, Mass., Jan. 29, 2014 /PRNewswire/ -- ReDigi, Inc. (www.redigi.com), the world's leading marketplace for pre-owned digital goods, announced today that it has been awarded a patent by the United States Patent and Trademark Office (USPTO). The US patent No. 8,627,500 B2 recognizes ReDigi's groundbreaking system for the management and resale of digital content. This patent signals a new era of "copy-less" digital transactions between consumers and forms the backbone of a burgeoning marketplace for buyers and sellers of MP3s and eBooks. The patented technology took almost five years of research and testing before the USPTO granted this significant patent to ReDigi and represents only some of the advances in technology made by the ReDigi team, which is committed to providing unsurpassed protections for consumers, copyright holders, and those who create content.
ReDigi's patented technology provides significant opportunities to unlock the full value of digital content by creating a system and method for the resale of that content without actually having to make a copy. ReDigi's patent includes the following methods and apparatuses:
- Verification Engine - A mechanism that analyzes each digital media file that enters the ReDigi system to ensure that it is legally eligible for resale.
- Atomic Transaction - A cloud-based mechanism that instantaneously transfers an "original" good from one owner to the next, without making a copy.
- Removal and Monitoring Mechanism - A digital management application that helps sellers identify and ensure personal-use copies of the sold media are removed.
In contrast to ReDigi's patented technology, other media companies employ significantly different, more traditional "copy and delete" mechanisms and technology. ReDigi believes that its "copy-less" digital technology is far superior to these systems as it addresses the concerns raised by copyright holders that the resale of digital content via a reproduction violates copyright law.
The inevitability of the digital secondary market is no longer a question. Unlike the physical world where copyright holders and creators of content do not share in the resale value chain, the digital marketplace presents unique opportunities that industry insiders acknowledge are too lucrative to pass up. ReDigi is at the forefront of this major frontier.
"ReDigi's technology is significant and readily corrects early industry issues that have plagued digital retailing, including piracy, and opens new opportunities that allow consumers to use their digital media as currency for funding new purchases, in some ways transforming digital media analogous to digital bit coins," said ReDigi Founder and CEO, John Ossenmacher. "We are committed to ongoing innovation and ensuring that all parties, including consumers, copyright holders, and those who create the content have the opportunity to benefit greatly from the multi-billion dollar market in digital media that is owned by the consumer."
This significant patent award signals an expected ongoing flow of additional patent awards coming from numerous applications that have been filed by the company over the past five years, including ReDigi's "Active Digital Security" platform, a game-changing security technology so advanced it is becoming the new baseline for the industry globally. For more information please contact [email protected]
ReDigi™ is the world's first online marketplace for the resale of pre-owned digital media, and a one-stop-shop that allows users to store, stream, buy and sell legally acquired digital media. ReDigi's technology is covered by numerous patents and patent applications and functions to ensure the rights of consumers, artists, authors and copyright holders are protected in a far superior way than ever previously thought possible, ReDigi technology protects the integrity of the process from those looking to misuse digital content. ReDigi is also the first company in history to provide artists, authors and creators a recurring revenue stream by offering Artist/Author Syndication as part of the secondary marketplace.
Jaclyn Inglis / ReDigi
855-473-3444 x 706
SOURCE ReDigi, Inc.
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