- Smart home technology company Quantify Technology Holdings (ASX:QFY) has received Patent protection for its technology in Egypt
- The company says the Egyptian market is worth US$150 million (approximately $223 million)
- Egypt is Quantify’s thirteenth country to grant Patent protection
- Quantify remains steady on the market close today, trading at 0.3¢ per share
Smart home technology company Quantify Technology Holdings (ASX:QFY) has received Patent protection for its technology in Egypt.
A Patent is a form of intellectual property that gives its owner the legal right to exclude others from making, using and selling.
The company says the Egyptian market is worth US$150 million (approximately $223 million) and has a growing rate of 26 per cent per annum.
This figure is residential and does not include the commercial market (retirement and disability living and hospitality).
Egypt is Quantify’s thirteenth country to grant Patent protection, joining countries like Australia, USA, Mexico, China, Singapore, South Africa and many more.
Quantify’s technology focuses on making lives better in homes, workplaces and communities with its Internet of Things (LoT) smart home technology.
It’s qDevices replace standard power outlets and light switches and can be controlled by voice, app and touch.
This Patent protects Quantify Technology’s unique selling proposition, allowing its products to evolve over time without complete product replacement.
Quantify remains steady on the market close today, trading at 0.3¢ per share.