WASHINGTON--(BUSINESS WIRE)--The United States Business and Industry Council (USBIC), a national organization of business owners and executives dedicated to improving the U.S. domestic economy, has named Claudio Ballard, founder of the Texas-based DataTreasury Corporation, as its 2010 “Inventor of the Year.” The group will honor Ballard’s achievements at a 2011 gala in Washington, D.C.
A lifelong innovator, Ballard is best known for creating the Global Repository Platform, a patent-protected electronic transaction system that dozens of major banks have licensed in order to process digital versions of checks and other financial instruments. The U.S. banking industry now saves billions of dollars annually through the use of this revolutionary technology.
Like scores of independent inventors before him, Ballard has been forced to fight for recognition of his shareholders’ intellectual property. Even now, Ballard and DataTreasury are preparing for litigation with a handful of large banks and other financial services companies that they allege have refused to respect the small company's patent rights
“We are proud to honor Claudio as our ‘Inventor of the Year,'” said Kevin L. Kearns, president of the USBIC. “He is brilliant and tenacious, and he isn’t afraid of standing up for what’s right. In short, he is the ideal American inventor. Innovators like Claudio are national treasures. They must be free to patent their ideas and bring them to market so that American businesses can move the economy forward and increase the standard of living for all Americans in the future.”
Ballard’s innovations are not confined to the world of electronic transaction technology. He received his first patent, for a video character recognition system, in 1992. In 2008, Ballard founded Iconic Motors, an automotive company that produces high-performance sports cars designed by the inventor himself. Iconic’s automobiles are manufactured wholly within the United States and are filled with patent-pending technologies developed by Ballard.
Further details regarding the USBIC’s “Inventor of the Year” gala will be announced in the near future.
About the USBIC
Founded in 1933, the U.S. Business and Industry Council (USBIC) is a national organization of business owners and executives dedicated to making the U.S. domestic economy the world’s leading engine of economic growth. Member companies are typically family-owned or privately held, mostly in the manufacturing sector. They are often the major employers in their home communities and the mainstays of the local economy. For more information, see www.americaneconomicalert.org.