Florida Patent of the Month – May 2023
Mayfonk Athletic LLC (DBA VERT Technology) has developed an innovative idea that combines footwear and technology to monitor and improve athletic performance. With the current trend in the footwear industry to incorporate technology to measure and monitor athletic performance, VERT has taken it a step further by inventing a shoe that not only monitors athletic performance but also corrects any imbalance that may lead to injury.
The new shoe from VERT uses sensors to monitor various aspects of an individual’s performance, such as speed, distance, and heart rate. The sensors are embedded within the sole of the shoe, making it easy to collect data without any additional attachments. The data is then transmitted to a smartphone or computer application that can track performance and provide personalized insights.
Going beyond performance, the system also analyzes the data collected from the sensors to identify any imbalances that may lead to injury. For example, if the user has a tendency to land heavier on one foot than the other, the shoe can detect this and provide corrective measures to help improve performance and prevent injury.
VERT’s new shoe has many potential benefits for athletes, coaches, and sports medicine professionals. Athletes can use the data collected to improve their performance, coaches can use the data to make informed decisions about training and strategy, and sports medicine professionals can use the data to help prevent and treat injuries.
Are you developing new technology for an existing application? Did you know your development work could be eligible for the R&D Tax Credit and you can receive up to 14% back on your expenses? Even if your development isn’t successful your work may still qualify for R&D credits (i.e. you don’t need to have a patent to qualify). To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.
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The Research & Experimentation Tax Credit (or R&D Tax Credit), is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The credits are a tax incentive for performing qualified research in the United States, resulting in a credit to a tax return. For the first three years of R&D claims, 6% of the total qualified research expenses (QRE) form the gross credit. In the 4th year of claims and beyond, a base amount is calculated, and an adjusted expense line is multiplied times 14%. Click here to learn more.
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