Yozons Awarded U.S. Patent for Web-Based Electronic Signature Technology

Yozons expects to license its newly awarded patent to electronic signature companies as well as businesses that incorporate the technology in their web-based electronic contracting systems. Yesterday, the U.S. Patent Office approved and issued Patent No. 7,360,079, affording Yozons rights to its invention that has been widely adopted after the U.S. E-Sign Act of 2000 was enacted

Kirkland, Wash. (PRWEB) April 16, 2008 -- Yozons expects to license its newly awarded patent to electronic signature companies as well as businesses that incorporate the technology in their web-based electronic contracting systems. Yesterday, the U.S. Patent Office approved and issued "System and method for processing digital documents utilizing secure communications over a network" as U.S. Patent No. 7,360,079, affording Yozons rights to its invention that has been widely adopted after the U.S. E-Sign Act of 2000 was enacted

The invention removes the obstacles of a Public Key Infrastructure (PKI) that the computer industry relies upon to issue, expire, revoke and exchange digital certificates. In a PKI, users generate public and private key pairs, store and provide their private keys to generate a digital signature, most often for the purpose of electronically signing documents, and use the public key embedded in the other parties' digital certificates to verify their signatures.

Rather than having end users submit their private keys to desktop software that generates a digital signature, the Yozons invention incorporates the industry's best practices in encryption (AES), secure communications (TLS/SSL) and digital signatures (SHA1 with RSA) into a web-based solution so parties no longer have to concern themselves with document encryption, key management, digital certificates or how to securely send their confidential agreements just to sign electronically.

Yozons CEO David Wall said, "The E-Sign Act enacted a technology-neutral, nationwide law that removed the vise grip PKI had on the electronic contracting industry. Finally, businesses weren't stuck with an expensive, one-size-fits-all approach for electronic signatures just as they weren't stuck with notary publics for signing every paper document. The Yozons invention allows businesses to manage their risks and easily reach and sign documents with their customers, suppliers, employees and partners using just a web browser, and most of our subsequent competition quickly followed suit."

Wall explained that the patent has been well vetted over the course of seven years by the patent office to ensure its validity.

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