System, method, and apparatus for identifying and authenticating the presence of high value assets at remote locations

• US 7,774,268 B2
• Filed: 03/01/2004
• Issued: 08/10/2010
• Est. Priority Date: 03/03/2003
• Status: Expired due to Fees

• Current Assignee: TB Group, Inc.
• Original Assignee: TB Group, Inc.
• Inventors: Bradley, A. (Tony) W.
• Primary Examiner(s): Abdi; Kambiz
• Assistant Examiner(s): Rosen; Elizabeth H
• Application Number:
  US10/791,518
• Publication Number:
  US 20040177032A1
• Time in Patent Office: 2,353 Days
• Field of Search: 340/5.1, 705/35, 705/38
• US Class Current: 705/38
• CPC Class Codes: G06K 17/00 Methods or arrangements for effecting co-operative working between equipments covered by two or more of main groups G06K1/00 - G06K15/00, e.g. automatic card files incorporating conveying and reading operations
• CPC Class Codes: G06Q 10/087 Inventory or stock management, e.g. order filling, procurement or balancing against orders
• CPC Class Codes: G06Q 30/018 Certifying business or products
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A system, method, and apparatus for identifying and authenticating the presence of high value assets at remote location includes associating an identification tag with the asset. The identification tag includes identification information that can be electronically read and sent to a remote location for verifying the authenticity of the asset.

Claims

1. A method for verifying compliance with a finance agreement between a first party and a second party, the finance agreement associated with an asset, the method comprising:

affixing a self-destructing identification tag to the asset associated with the finance agreement, wherein the first party provides asset financing and the second party is permitted to sell the asset associated with the finance agreement;

notifying the second party to perform a self-audit of the asset, wherein the notifying is performed by fax, e-mail, instant message, phone, or pager;

the second party reading said self-destructing identification tag using a machine configured to read encrypted data from said self-destructing identification tag;

generating audit information, the audit information being at least partially based on the encrypted data;

the second party sending audit information based on the encrypted data to the first party, wherein the sending is performed by voice, fax, e-mail, or instant message;

analyzing the audit information to determine whether the second party is complying or not complying with the finance agreement based on the audit information; and

wherein the step of analyzing the audit information is performed by a server programmed to analyze the audit information and determine whether the second party is complying or not complying with the finance agreement based on the audit information.

2. The method of claim 1 wherein the asset associated with the finance agreement is selected from a set consisting of a car, a truck, a recreational vehicle, a boat, a motorcycle, construction equipment, farm equipment, manufacturing equipment, containerized freight, art, an antique, and a collectible.

3. The method of claim 1 wherein the self-destructing identification tag includes a radio frequency identification tag.

4. The method of claim 1 wherein the self-destructing identification tag includes a bar code.

5. The method of claim 1 wherein the audit information comprises a hash.

6. The method of claim 1 wherein the self-destructing identification tag includes a bar code tag.

7. The method of claim 1 wherein the machine that is configured to read encrypted data from said self-destructing identification tag is integrated in a cell phone.

8. The method of claim 1 wherein the encrypted data includes an audit code.

9. The method of claim 1 wherein the encrypted data includes a geographic position associated with the asset.