"Location, Location, Location," Used to Be the Three Most Important Things in Retailing. Tomorrow it May Be "Location Based Advertising"

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Donald Spector, Chairman of Innovation Fund LLC (http://www.innfund.com), announced that he has patented what he considers to be the Fundamentals of Location Based Advertising. The invention marries the consumer, his location and the potential advertiser with "an offer the consumer can’t refuse."

It’s not as important to have the best location if we can track a person that is about to lease a car and call him on his cell phone and offer him a better deal. There are many concepts a foot to ensure that the technology is not abused. Spector elaborates, "For example, if we know that someone likes a particular hotel chain, it’s late at night and he is not near his home base, and we can give him a half price room at his favorite hotel, it’s not such an inconvenience. The potential is infinite…restaurant offers, car dealer offers, Broadway show ticket offers."

Spector believes that location based advertising can heavily invade the advertising arena in the next several years. Between cell phones, PDA’s and laptops there are ways of contacting the consumer directly and telling them things they can’t see and may not really ask for.

While eyes are on Google and their plans to provide WiFi in exchange for advertising, Spector says that the first movers may not see the real future with the myriad of geo-positioning devices from voices inside cars to almost every smart gadget in the world. While Google believes it has the jump on the world, Microsoft, Time Warner or even overseas companies might acquire technology that will change the dynamics of the marketplace. "With Blackberry and Tivo’s recent court experiences and more patents to come, the giants may not own the playing fields of the future."

One company has already announced that they are going to auction patents or try to license their technologies in this new area. Google’s recently filed patent application has been mentioned in recent articles as being threatened by Wayport’s earlier filings.

"Innovation Fund is not a litigious company,” says Donald Spector, Chairman. “We simply find the right partners and license our technologies, or put them into beta testing ourselves and then sell the companies. We are the quiet development company with a vast portfolio in areas from communications, medical devices, and consumer products to

the entertainment industry. We partner with multi billion dollar companies and look for win/win situations."

When asked whether he views the giants as overwhelming competition, Spector replied, "Absolutely not. We view all companies as potential partners or acquirers. We have licensed hundreds of patents and technologies and view large companies as our exit strategy. This is not our first or last technology. We will let the field develop and likely partner not litigate in the future."

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Barbara Carver
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