Alabama Patent of the Month – March 2024
Have you ever gone to the shop and left without the one thing you needed? While heading back to the shop may be frustrating, fishermen who forget to buy the required tackle may be out of luck once they’re on their boat. In fact, forgetting the right tackle or lure could be the difference between a successful and failed fishing trip.
Recently, Fishing Chaos, Inc. has been granted a patent for their marine equipment inventory technology that ensures you will never forget what tackle you need again. By integrating advanced technology with practical fishing needs, the system ensures that anglers are always equipped with the right gear for their fishing trips.
Fishermen faced challenges in keeping track of their tackle box inventory, often leading to wasted time and suboptimal fishing experiences. The Fishing Chaos system addresses these issues by providing real-time tracking of marine equipment inventory, alerting users when certain gear needs replacement.
At the core of the system are tackle boxes equipped with sensors and geolocation devices. These tackle boxes communicate with a central processor, which interacts with a user’s computing device via a user interface. Through this connection, users can access their equipment data and receive alerts regarding inventory levels.
The system utilizes equipment profiles associated with specific marine activities, ensuring that users have the necessary gear for their intended fishing trips. Each equipment profile defines lower limits for various types of gear, allowing the system to monitor inventory levels and prompt users when replacements are needed.
One of the key advantages of the Fishing Chaos system is its ability to provide timely alerts, enabling users to plan their fishing trips more efficiently. By eliminating the guesswork associated with tackle box management, anglers can focus on enjoying their time on the water without worrying about missing or inadequate gear.
The system offers seamless integration with third-party retailers’ Point-of-Sale systems, allowing users to conveniently purchase replacement gear directly through the user interface. This feature further streamlines the equipment replacement process, saving users valuable time and effort.
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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