LOS ANGELES--(BUSINESS WIRE)--Zugara, Inc. announces today the implementation of a long-term patent portfolio monetization strategy through which companies can gain legitimate access to its pioneering patented technologies such as those used in the company’s proprietary augmented reality social commerce platform, the Webcam Social Shopper (WSS).
Zugara has retained internationally recognized intellectual property business advisors, IPinvestments Group, to develop, implement and manage the patent portfolio monetization program centered on U.S. Patent No. 8,275,590 and its related pending U.S. and international counterparts. Zugara may end up selling or granting non-exclusive licenses to its patent portfolio. The Company believes its patented technology is already widely implemented in the retail industry and that market adoption will continue. Augmented reality-powered “virtual dressing rooms” will play a critical role in retail’s multi-channel consumer reach.
“Recently we were issued our first patent, and for the retail business, it’s an important one. We are excited about partnering with IPinvestments Group to assist us in maximizing the value of our intellectual property,” said Matt Szymczyk, CEO of Zugara.
In essence, the proprietary WSS technologies relate to what is now commonly referred to as a “digital mirror” or a “virtual dressing room”. Zugara’s patented technologies enable the simulation of a fitting room where a user can try on one or more virtual-wearable items within a video feed. The user is provided a gestured controlled interface to navigate through and operate the virtual dressing room. Also, the user’s motion, position and/or orientation is tracked while wearing and viewing the virtual-wearable item. Further aspects include the ability for the customer to take pictures to share with family and friends. Zugara’s proprietary WSS can be used with a wide variety of “video feeds” taken from PCs, tablets, smartphones, depth-sensing cameras (e.g. Kinects), IPTV, kiosks, and even eyewear (e.g. Google Glass).
Zugara is changing the face of multi-channel retail. Since 2009, Zugara has been developing the Webcam Social Shopper (WSS), a patented commerce platform and interface that provides retailers with a more social, visual and fun experience for their shoppers. www.zugara.com
ABOUT THE WEBCAM SOCIAL SHOPPER (WSS)
The current iteration of WSS utilizes augmented reality to turn a shopper’s webcam into a real-time interactive mirror. For example, a young woman can actually hold a dress up in front of herself, just like she would at the rack in a store, and immediately validate if an item’s style/color is right for her. No downloads, no plug-ins, no paper markers… it just works. www.webcamsocialshopper.com
ABOUT IPINVESTMENTS GROUP
IPinvestments Group is an intellectual property business advisory firm committed to extracting maximum value for intellectual property assets. Headquartered in Atlanta, Georgia, IPinvestments Group provides international transaction services related to selling and/or licensing patented technologies and innovations under a success fee structure. IPinvestments Group’s professionals have extensive experience in negotiating the economics of IP-rich agreements and are well prepared to successfully navigate the complex process of selling or licensing high-end patent portfolios. www.ipinvestmentsgroup.com