Medici Subsidiary Licenses US-Based RFID Patent Portfolio
The Medici Portfolio, LLC today announced that Andraste LLC, a Medici-managed company, has opened its licensing program on the RFID patent portfolio developed by Chester Przygoda, Jr., founder of USM Systems, Ltd. (USMS). The patent portfolio includes four U.S. patents, each entitled “Event Driven Information System.”
Mr. Przygoda founded USMS in 1995 in Berkley, Michigan. The company successfully developed Radio Frequency Identification (RFID) based solutions to meet a variety of commercial applications. As a result of millions of dollars invested in research, USMS dramatically expanded the functionality of emerging RFID technology that tracks and manages assets and personnel in a range of environments.
Mr. Przygoda, the inventor of the USMS patent portfolio, has worked for decades to develop and implement tracking and monitoring systems that use RFID and other input devices. “USMS has made significant improvements in the RFID field,” said Mr. Przygoda. “I am excited to be working with Andraste to offer licenses on this important patented technology.”
The patent portfolio is owned by the Przygoda Trust. Andraste entered into an agreement with the trust to license its patent portfolio. Under the parties’ agreement, the trust granted Andraste an exclusive license to the portfolio in exchange for a share of the licensing profits.
The Global RFID market is currently expected to grow at 18% per year and will reach approximately $ 19.3 billion USD in 2014. See “Global RFID Market Forecast to 2014,” ASD Reports, Mar 2012.