Secure luxury accessories developer iWallet has moved to upgrade its patent portfolio as part of a larger shift in its business strategy. The company has announced that it’s going to file a “Continuation-In-Part” (CIP) application that will expand the scope of its current IP holdings.
According to iWallet, the move will essentially extend its current patent holdings so that they are compatible with current and evolving smartphone technology. The company’s iWallet products are marketed as luxury accessories that come equipped with advanced digital security including biometric fingerprint-based locks and Bluetooth tethering that can detect when an accessory is removed from its owner. Given the technological sophistication of the products, iWallet has an associated IP portfolio that is highly valuable in itself. As such, the company has in recent months endeavoured to shift its focus from the production and sale of its iWallet products to a strategy revolving around licensing with interested partners.
The company has also recently branched out beyond the luxury “techcessories” products that were its specialty into other consumer electronics devices. A partnership with NEXT Biometrics led to the launch of the iWallet Password, a USB fingerprint reader employing a NEXT fingerprint scanner. Whether the company plans to produce more such non-luxury products as it seeks licensing clients is unclear at this point, but in any case the company should have more IP leverage at its disposal after its CIP filing.