ReelTime's Breakthrough VR Patent Gains Enforceability as Child Patent Ready for Examination by USPTO

Rhea-AI Summary

ReelTime VR (OTC PINK:RLTR) announced that the USPTO has notified the company that its continuation patent application for the Simultaneous Spherical Panorama Image and Video Capturing System (U.S. Patent Number 10,761,303) is ready for examination. This continuation patent aims to broaden the scope of existing claims and strengthen enforceability against infringements. CEO Barry Henthorn emphasized the importance of this step for protecting their technology, stating it supports their licensing and enforcement rights. The parent patent extends until March 23, 2038.

Positive

• Continuation patent ready for examination, enhancing intellectual property protection.
• Expansion of patent claims may lead to increased licensing opportunities.
• Strengthened patent enforcement capabilities against potential infringements.

Negative

• None.

SEATTLE, WA / ACCESSWIRE / August 10, 2021 / ReelTime VR (OTC PINK:RLTR) confirmed that the Unite States Patent and Trademark Office (USPTO) has notified ReelTime that the continuation patent application for their Parent Patent Previously Issued for the revolutionary Simultaneous Spherical Panorama Image and Video Capturing System (U.S. Patent Number 10,761,303), is ready for examination.

The Child Patent Application is intended to further broaden the scope of the claims contained in the Parent, strengthen the enforceability against identified infringements, and such claims and disclosures shall benefit from the priority date of the Parent Patent.

On August 11, 2020 ReelTime VR (OTCPK:RLTR) confirmed that it was in the process of filing a Child Patent application under the ReelTimes Parent Patent which it received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for their non-provisional patent pending application covering apparatus and method claims for technology involving simultaneous capturing of 360 X 360 degree Spherical Panorama Images and Video. The USPTO has notified ReelTime that the Child patent is now ready for examination.

Barry Henthorn, CEO of ReelTime, stated: "The continuation patent for Reeltime is an important step in insuring we have as strong of protections as possible. The continuation patent will allow ReelTime to further expand upon that valuable initial intellectual property contained in its granted Parent Patent and improve its ability to enforcement the protection of its profitable technological capabilities. This remarkable patent is just getting started. We are ready to move forward with our licensing and enforcement rights granted to us under the Patent by the USPTO."

The Simultaneous Spherical Panorama Image and Video Capturing System (code-named the "Periramascope"), is described in the parent patent as a "360-degree image and capturing system having no lenses, a single lens, or a plurality of lenses. The device directs light from a sphere surrounding the device to a single reflected aggregate image that is then transformed into a full 360 X 360 spherical image or any subset thereof…"

Although the original technology allows any cell phone or other camera to instantaneously capture 360 X 360 Virtual Reality Video or pictures without any need for stitching, the patent provides protection from infringement from any capturing of a plurality of images utilizing at least one mirror. The multi-use function of the patent allows for that intellectual property coverage to span a wide range of industries and uses. The term of the patent is far reaching with a scheduled end date of March 23, 2038, 20 years and 247 days from the earliest filing date of the patent.

Continuation patents allow the company or individual to expand upon their initial patent or to cover a market or technology more completely. This additional protection against valuable intellectual property allows companies to better protect themselves against patent infringement. With a more complete coverage of that initial technology or target market via a continuation patent, companies are less susceptible to invalidation during litigation procedures in court related to patent infringement cases. Additionally, a continuation patents allow the company to protect the expansion of their ideas dating back to the submission date of the parent patent. For ReelTime's "Periramascope" Patent, this would be an initial patent application date of July 19, 2017.

• About ReelTime Rentals, Inc. d/b/a ReelTime Media: www.reeltime.com, is a publicly-traded company based in Seattle, WA (OTC PINK:RLTR). ReelTime Media provides end to end production capabilities and discount media purchasing that is redefining how companies are evaluating and purchasing their TV, radio, print, and other new media. ReelTime is also is in the business of developing, producing, and distributing Virtual Reality Content and technologies. We have an end to end production, editing, and distribution capabilities for internal and external projects. ReelTime Currently produces three ongoing series for the Samsung Gear VR platform and distributes them over numerous VR delivery portals including Gear VR, Oculus, Veer VR, HTC Vive, YouTube 360, Facebook, and others. ReelTime Media also publishes the book 'It Was Always Me Edward Edwards the most Prolific Serial Killer of all time' which has been the subject of a cover story on People Magazine, Rolling Stone, In Touch, and a six-part series on Paramount network, www.itwasalwaysme.com.

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Contact:

Barry Henthorn
ceo@reeltime.com

SOURCE: ReelTime Rentals Inc.

View source version on accesswire.com:
https://www.accesswire.com/659099/ReelTimes-Breakthrough-VR-Patent-Gains-Enforceability-as-Child-Patent-Ready-for-Examination-by-USPTO

FAQ

What is the significance of ReelTime VR's continuation patent application?

The continuation patent application is significant as it broadens the scope of claims and strengthens enforcement against potential infringements.

When is the parent patent for ReelTime VR's technology set to expire?

The parent patent for the technology is set to expire on March 23, 2038.

How does the continuation patent benefit ReelTime VR's business?

The continuation patent allows ReelTime VR to expand its intellectual property protections, potentially leading to more licensing agreements and a stronger legal stance against infringements.

What technology is covered under ReelTime VR's patents?

The patents cover a Simultaneous Spherical Panorama Image and Video Capturing System, which can capture 360-degree images and videos without the need for stitching.

What developments have taken place regarding ReelTime VR's patent application?

The USPTO has notified ReelTime VR that their continuation patent application is now ready for examination.