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SAN CLEMENTE, Calif., Nov. 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Image Protect Inc. (OTC: IMTL) (imageprotect.com) (“Image Protect”, “IMTL”, or the “Company”), a global leader in the end-to-end copyright infringement sector, is excited to provide an update on the Company’s strategic partnership (the “Partnership”) with RYDE Holding (“RYDE”), the creator and operator of the KODAKOne Image Rights Management Platform.
Primarily, the Company is proud to report that the Partnership has already begun to Settle Cases well ahead of schedule. The companies continue to value the total sales value of the portfolio of infringement cases central to the Partnership to be at least $5 million.
“We were ahead of schedule in integrating platform technology, and now we are even further ahead of schedule in Identifying infringements and settling cases, which in turn will put us ahead of schedule in booking initial revenues from the Partnership,” stated Matthew Goldman, CEO of Image Protect. “We want to go on the record in giving due credit for this rapid escalation toward sales to the back-end efficiency exhibited by the team at KODAKOne.”
Management notes that the earlier-than-expected successful integration of the base systems forming the Partnership has allowed the companies to rapidly identify, pursue, and settle cases. The speed and ease with which base systems have been integrated, and the rapidity with which initial settlements have been obtained suggest that initial revenue projections should be moved forward.
In addition, because the underlying platforms have been completely synchronized and are functioning so well in tandem, the Partnership can move forward and expand its pool of cases through ongoing image uploads, infringement identification, and aggressive recovery action to settlement.
Mr. Goldman continued, “We entered this Partnership with the KODAKOne platform because we knew there would be a strong synergy creating the new market leader in the digital image rights protection space. At this point, we have even more confidence in that thesis with each passing day because we now have tangible proof that it works.”
According to a recent ResearchNReports study, the overall cloud-based digital rights management space is projected to grow from $491.5 million in 2016 to just over $2.5 billion by 2025.
About Image Protect
Image Protect protects and monetizes creative works. By uniting technology with a team of copyright experts, we ensure that content providers preserve the value of their digital assets. Our web application monitors the global Internet to seek and collect evidence for illegally used visual content. Then our legal partners across North America, Europe, and Asia ensure our clients receive appropriate compensation for work used without valid license.
Safe Harbor Provision
Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.