insideARM.com published a story this morning on its Forbes.com blog–The Business of Receivables–regarding the announcement of a patent issued by the United States Patent and Trademark Office to TriCap Technology Group. TriCap owns the open market debt portfolio exchange platform, ARxChange.
The new patent (# 8234209) has material implications for the U.S. debt markets as a whole, and specifically for any ARM company that buys delinquent debt or services purchased delinquent accounts.
Here’s an excerpt from the Forbes.com post:
“[T]he IP announced today extends protection to TriCap and its core ARxChange platform over the organization, sorting, ranking, valuing, and posting of debt and accounts receivable across all U.S. consumer markets, not only those derived from the healthcare industry. Specifically, IP # 8234209 affords TriCap exclusive rights to whenever receivables in any market are:
- organized by a computer into a portfolio
- scored whereas the final score represents the collect-ability and base value of the portfolio
- and whereas the final score is posted to a secure website on the Internet.
The implications of adding this second IP to TriCap’s patent portfolio are at once elementary and (quite possibly) revolutionary. Simply put, the patent secured today by TriCap seems to substantiate an acknowledgment by the USPTO that the basic attributes of how the debt purchasing and servicing market functions in the ARM industry are indeed patentable. Transformative in that IP # 8234209 appears to govern the structure of an entire market, agnostic of asset class or type of receivable.”
Click here to read the entire post, How A (Non-Apple) U.S. Patent Might Just Change the World, and share your feedback on what this patent might mean for U.S. creditors, the debt purchasing market, and the entire ARM industry.
Michael Klozotsky is the Chief Content Officer at insideARM.com & insidePatientFinance.com. Follow him on Twitter @mklozkgc and @insidePF.