The availability of a patent portfolio dealing with improved security of personal information when performing network transactions has been announced by a leader in patent asset management services, Global Technology Transfer Group, Inc., (GTT). Consisting of one US patent, this portfolio is entitled "Network Transaction Patent Portfolio".

The key point of novelty of the patent relates to the creation and use of a digital verification insignia for utilization in networked transactions. Serving as an identifier that verifies the user is able to fulfill his obligation in the transaction, the digital verification insignia can be used in a similar fashion as credit card numbers, PayPalTM or Google CheckoutTM accounts. Expiring after a pre-specified time, the digital verification insignia is a unique transitory insignia that is valid only for the single transaction.

As more transactions are conducted online and identity theft continues to be a risk, Digital security is becoming increasingly important. Users that entered their bank account information for digital transaction, prior to secure socket layer (SSL) technology, ran the risk of an interception of the transmission of their data. By banks intending to increase both user convenience and security for networked transactions, a major advantage of the patent's technology is that it is fully compatible with traditional transactional systems as well as recent programs.

Highlighting the technology, potential markets and presented examples of Direct Evidence of Use, GTT has analyzed the patent portfolio and prepared a detailed marketing report.

Chairman and CEO of GTT, Michael Lubitz, declared: "Secure transactions and identity protection are fundamental in an ever expanding online marketplace". "Online merchants, lending groups, and credit card businesses all have major interest in this technology and will benefit from purchasing this portfolio."