Local Corp do it like Google and Apple - Companies need both: To be first to market and have patents protecting their products - and Google, Apple and Local Corp has both – in opposite to a company like Groupon (only product) or Vringo (only patents)
Being first to market is no longer enough of a competitive advantage. Companies need to be first to market and have patents protecting their products to ensure sales and profit longevity.
"Before a company can book a single penny in profit it needs a product to sell. Yet in today’s fiercely competitive global economy, before a company can produce something to sell, it needs to patent the idea. Otherwise, it’s too easy for competitors to knock off the product and steal market share.
In other words, being first to market is no longer enough of a competitive advantage. Companies need to be first to market and have patents protecting their products to ensure sales and profit longevity.
Groupon (Nasdaq: GRPN) and Apple (Nasdaq: AAPL) serve as good examples of this new paradigm at work.
As you’re well aware, Groupon invented the daily deals market in 2008. All it took was a novel idea to connect consumers and businesses in a new way – via coupons over email. But guess what? Groupon didn’t have even one patent protecting its novel business model. And within four years, over 300 competitors emerged. Now, Groupon doesn’t stand a chance to keep booking higher profits, let alone survive.
Contrast Groupon’s experience with the details behind the meteoric rise of Apple and you’ll definitely get the connection between patent filings and stock price performance.
We can all agree that Apple took the world by storm with its iPhone launch in June 2007. Before it sold a single one, though, it secured as many patents as possible. And it continued to do the same thing on every next generation device."
Source: Patent Filings: The Next Great Leading Indicator by Seeking Alpha
March 11, 2012
An example is the last new product of Local Corp backed through a patent of Local Corp: In two smart moves, Local Corporation (LOCM) is generating new revenue streams and setting up shareholders for big returns. An important pay-per-call patent and a strategy to launch a series of popular industry-specific websites will drive high-value ad revenues, boosting Local's already healthy revenue growth rate of 40% per year.
December 6, 2012
Irvine-based Local Corporation has launched a new, local lead generation site today, called Insurancelow.net, which it says is the first in a series of lead generation websites being launched by the company. The new site offers a car insurance guide and details on choosing car insurance carriers. Local Corporation said it expects the lead generation sites to offer educational articles and opportunity to receive quotes from industry professionals. The firm said it believes the launch of the lead gen sites would help it monetize the 30M consumers it reaches each month.
Dec. 12, 2012
Local Corporation Granted U.S. Web Domain Name Patent - This is the eleventh patent issued to the company and was part of the original OCTANE360 platform and asset acquisition in July 2010.
Covers Bulk Acquisition and Development of Domain Names
IRVINE, Calif.--(BUSINESS WIRE)--Dec. 12, 2012-- Local Corporation (NASDAQ:LOCM), a leading online local media company, today announced that the U.S. Patent and Trademark Office has granted the company patent number 8,312,125, which covers a method and system for the bulk acquisition and development of multiple web domain names.
Issued on Nov. 13, 2012, the patent describes a system and method for enabling the bulk acquisition and management of multiple web domains. The patent covers the technology related to the fulfillment of web domains. Local Corp. is currently using this technology for its small and medium-sized business (SMBs) customer as well as for the development of its recently announced vertically oriented lead generation sites. The method includes collecting a set of domain names for bulk content development, some of which are derived from user-provided keywords; filtering the set of domain names based on matching the domains to most-often used search terms by consumers; automatically submitting domain names for purchase; applying a template to the web domain related pages; and inserting content in those pages.
“The domain name industry continues to grow, with the number of domain names registered worldwide expected to top 305 million by 20181,” said Heath Clarke, Local Corporation chairman and chief executive officer. “This method is already being used as part of our Launch by Local SMB fulfillment platform and forms the basis for our site expansion into lead generation verticals. We’ve spent years developing our intellectual property portfolio, and we’re pleased that this key patent has issued.”
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