Local Corporation Granted New Ad Monetization Patent
June 04 2014 - 7:30AM
Business Wire
Strengthens Intellectual Property Portfolio and
Addresses Online Advertising Market Expected to Reach $182 Billion
by 2017
Local Corporation (NASDAQ: LOCM), a leading local advertising
technology company, today announced that the U.S. Patent and
Trademark Office has granted the company its thirteenth patent,
which covers an online advertising monetization and yield
optimization method and/or system.
Issued on May 13, 2014, patent number 8,725,572 is directed to a
technique for locating relevant advertisements through the use of
semantic keyword searches with claims directed to software, systems
and methods in which semantically related keywords may be used to
locate relevant fee generating advertisements that may monetize
better than other available response ads.
“We are pleased to expand our robust portfolio of intellectual
property with this latest ad monetization patent,” said Fred Thiel,
Local Corporation chairman and chief executive officer. “The online
advertising industry continues to show strong growth, and we
believe that our advertising technology, in combination with our
growing intellectual property portfolio, will position us well to
lead in this sector. We look forward to unlocking the value of our
IP and leveraging this patent to further monetize and optimize
traffic and advertising across our Owned and Operated properties
and Network.”
The company now has 13 patents issued, including four patents
related to search/menus, five related to pay-per-call and one
focused on local shopping, with several additional patents still
pending. The company is conducting a comprehensive review of the
various advertising models used across the industry today that may
be utilizing this patented yield optimization technology.
The company recently announced that as part of its patent
strategy, it is in the process of transferring the majority of its
issued patents to a dedicated IP holding subsidiary, which provides
a more flexible solution and enables the company to better leverage
the value of its intellectual property.
Additionally, the trial date for the company’s ongoing Fry’s
Electronics patent litigation has been set for July 15, 2014.
According to Borrell Associates, the U.S. online advertising
market continues to grow and is expected to reach $182 billion by
2017.
About Local Corporation
Local Corporation (NASDAQ:LOCM) is a leading local advertising
technology company that connects millions of online and mobile
consumers with businesses and products through a variety of
innovative digital advertising solutions. The company’s patented
Krillion® local shopping platform aggregates, localizes and
distributes dynamic, national and regional retail shopping content,
from approximately 120,000 store locations, representing nearly 3
million localized products. For more information, visit:
http://www.localcorporation.com or http://www.krillion.com. To
download the company’s iOS® 7-compatible Havvit™ shopping app, go
to: iTunes® (http://bit.ly/1d8Y111).
Forward Looking Statements
This press release contains certain forward-looking statements
that are based upon current expectations and involve certain risks
and uncertainties within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words or expressions such as
"anticipate," "plan," "will," "intend," "believe" or "expect'" or
variations of such words and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements are not guarantees of future performance and are subject
to risks, uncertainties, and other factors, some of which are
beyond our control and difficult to predict and could cause actual
results to differ materially from those expressed or forecasted in
the forward-looking statements. Key risks are described in the
filings we make with the U.S. Securities and Exchange Commission.
The forward-looking statements in this release speak only as of the
date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason. Unless
otherwise stated, all site traffic and usage statistics are from
third-party service providers engaged by the company. Traffic and
our monetization of that traffic combine to determine our revenues
for any given period. Our traffic volume alone for a period should
not be viewed as demonstrative of our financial results for such
period.
IOS is a trademark or registered trademark of Cisco in the U.S.
and other countries and is used under license.
Investor Relations:LHAKirsten Chapman,
415-433-3777local@lhai.comorMedia Relations:Local
CorporationCameron Triebwasser,
949-789-5223ctriebwasser@local.com
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