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- Family Zone has secured a long-awaited U.S. patent for its cloud-based cyber safety technology
- The company first applied for the patent in 2013
- The software allows users to monitor internet usage on several devices through cloud-based software, meaning it can be installed on any device or network
- Family Zone shares are currently up 20 per cent from their last closing price, now trading for $0.27 each
Family Zone shares reached a 2019 high of $0.28 each this morning after the company secured a long-awaited U.S. patent.
The patent protects Family Zone’s cyber safety Device Management System in the U.S. market with Family Zone first applying for the patent in March 2013.
However, the implications of this patent are no small deal for Family Zone. The intellectual property protected by the new award relates to the company’s device management system which it describes as its “Universal Cyber Safety Platform”.
This now-patented system is Family Zone’s flagship technology, which allows users to monitor internet usage on several devices through cloud-based software. The access policies to monitor or limit internet usage can be installed on end-user devices, in mobile networks or in network gateways.
According to Family Zone, this new patent is a “significant milestone” for the company. The company says not only does the patent protect its technology from potential U.S. competitors, but it also validates the uniqueness of Family Zone’s platform approach to cyber safety.
The company says the parental controls market is worth roughly $100 billion with less than 5 per cent penetration, and the new patent is key to unlocking the global potential of this market.
This new patent is the latest in a string of good reports from Family Zone. In June, Family Zone landed partnerships with Google, Noel Leeming, and Telkomsel Indonesia, and launched its “game changing” SpotShield product at the 2019 EduTech convention.
The company aims to keep establishing a strong presence in the education market by allowing schools and parents to apply their own sets of rules and standards across any network or device.
Family Zone shares are currently up 20 per cent from their last closing price, now trading for $0.27 each in a $54.17 million market cap.
