New York, NY (PRWEB) July 9, 2006
Innovation Fund LLC (http://www.innfund.com) Chairman, Donald Spector, announced today that the unique system of broadcasting television commercials on Personal Video Recorders (PVR's) and having the consumer press a remote control in order to get a discount or promotional coupon to the nearest retailer on their e-mail, has been sustained by the United States Patent and Trademark Office Board of Appeals and Interferences.
"We believe this system will give advertisers a better chance of viewership and interest than having consumers skip through commercials, or trying to get technology to prevent them from skipping", stated Spector. "With the Innovation Fund system people will be anxious to see products advertised that they can try out or on which they will get special deals. All they have to do is click their remote and a promotional offer will appear in their e-mail, giving them a discount and a location of a nearby retailer," he added. "We have so much information available today and so many people are competing for the consumer's attention, the only way to really breakthrough is with new technology. It would be ironic if TiVo and other PVR systems that have long been thought to be the demise of advertising supported television, ended up being something that improves the advertising model. The trick is simple. Give the consumer something special," says Spector.
Another application to the system would be to set up a separate home shopping system on one of the cable channels of TiVo (NASDAQ: TIVO) or Time Warner (NYSE:TWX ) or one of the other cable systems. In the new scenario the operator doesn't even have to carry inventory, all they have to do is advertise products that may not be moving well in a local area and give the consumer a special value. The e-mail will direct the consumer to specific retailers and the redemption can be easily tracked for a transaction fee.
Donald Spector and Richard Speer, co-founder of the Home Shopping Network, have worked together for about ten years on other projects and still do business together. Richard's father, Roy Speer, sold the business several years back and has been listed on the Forbes 400 of the wealthiest people in America.
"We are not sure what company would make the best strategic partner for these exciting proprietary technologies," said Spector. "I was a little bit disappointed as an early shareholder of TiVo that they did not make a deal to make their technology the standard by selling out earlier. Nevertheless, they are the brand name. On the other hand, I am a shareholder and big believer in the financial and stock turnaround of Time Warner."
Innovation Fund works with some of the largest companies in the world and sees its portfolio in new advertising technologies and geo-positioning based advertising as the future of advertising supported content.
Innovation Fund LLC owns proprietary technologies from Computer and Satellite technologies to Consumer products and Entertainment properties. It licenses to or joint ventures with Fortune 500 companies and is a worldwide leader in innovation.
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