NEW YORK, Oct. 11, 2016 /PRNewswire/ -- Source3® announced today the rollout of an IP Recognition (IPR) platform, the world's first product platform enabling the recognition of high value branded content in products of all types, with a special focus on online marketplaces where products are created and uploaded by individual sellers and makers, including handmade, apparel, print-on-demand, consumer goods and digital goods such as 3D animation and virtual reality content.
The IP Recognition technology is powered by a comprehensive data set containing granular property-level information covering the canon of content underlying the $260 billion global licensing industry, including Film/TV, Comics, Gaming, Toys, Corporate, Fashion, Automotive, Sports, and much more and identifies brand ownership for each record of IP. A combination of image and text matching algorithms allow Source3 to recognize third-party IP in uses ranging from simple "logo-slapping" to highly creative interpretations and mash-ups.
Source3's IPR platform is designed to help both brands and marketplaces monitor and manage third-party IP and proactively establish licensing relationships with each other. To this end, Source3 also provides a range of scalable licensing tools, supported by a team of licensing veterans, to manage the licensing process from negotiation to real-time approvals to royalty reporting. In addition, robust analytics provide brands with unique insights into consumers and superfans, enabling them to develop, license and market compelling products.
"We created this product to solve a clear unmet market need," said Patrick Sullivan, CEO. "While working at YouTube, the team here at Source3 saw first hand the commercial and creative power of makers harnessing third-party IP. We see a similar explosion occurring in the much wider world of maker products. From handmade products to 3D models, creative makers are transforming commerce and consumption. Source3 provides the IP recognition and data analysis infrastructure to enable identification, content management, and monetization at scale, enabling brands to gain insight into innovation, consumer engagement and monetization around their IP."
Source3 is the world's first platform for end-to-end management of third-party IP in user-generated content. With an extensive database of IP information, we provide IP recognition, licensing, brand analytics and rights administration services that connect creators, marketplaces and brands, and enable monetization of user content across physical and digital products. Based in New York City and founded by Google and 3D Systems veterans, the team's previous venture was RightsFlow, an enterprise licensing technology for the music industry acquired by YouTube in 2011. For more information, please visit www.source3.io.