OVERLAND PARK, KS / ACCESSWIRE / May 2, 2023 / Technology advances in the transportation industry are changing rapidly - from autonomous driving to innovations in safety and security, companies are continually looking for new ways to navigate complex logistics challenges quickly and find new solutions for efficiency and transparency.
Given how quickly the industry adopts these advances it's important they patent innovations. Patents not only offer legal protection, but they also safeguard the organization's competitive advantage, attract investment, and lead to licensing opportunities.
Zarif Haque, Founder and CEO of Kansas-based expert vehicle transport technology company, Draiver, is very familiar with the patent process. After several years owning auto dealerships and rental car companies, Haque founded Draiver, which is now one of the most successful transport logistics companies in the United States. To date, Draiver has had 15 patents issued around the world and has an additional pending.
"Our best-in-class AI technology allows us to deliver vehicles faster and to get those vehicles where our customers need them, exactly when they need them," Haque says. We've worked for years, using data-informed strategy to create these patents, which benefit our customers around the world."
Draiver has a unique hybrid tech and SaaS business model, which has enabled unprecedented scale in the vehicle delivery space. The company now moves 6,000 cars daily for automotive and truck dealers, vehicle service centers, fleet companies, rental agencies, OEMs and other businesses. Their patents or patent-pending revolutionary technology is used globally to solve common vehicle delivery issues.
One technological innovation that Draiver introduced is ID Validate, an AI-powered identification verification and facial recognition technology the company uses to address compliance issues and protect against fraud and loss. Draiver customers have the opportunity to have each independent contract driver ID verified, matching the ID to the individual with a selfie, using the Draiverfacial recognition software. Customers can also perform ID verification via a texted or email link to the contractor and be notified by text when the ID verification is complete. Carrier fraud, where criminals imitate haulers and other subcontractors, including drivers with falsified documents, accounted for 84 percent of claims involving fraud or deception in 2022.
"The goal behind ID Validate is to keep everyone in the transport industry safer," says Haque. "This service, coupled with GPS tracking, ensures driver accountability and transparency of each move along a route."
Draiver Inspect technology simplifies the inspection process. With one click, customers can use the AI-integrated technology to detect damage and conduct remote vehicle inspections and appraisals.
Draiver Inspect can be used for trade-in appraisals, lease maturities and upgrade programs, and reduces risk and expenses.
Inspections are crucial at both pick-up and drop-off locations. This technology helps drivers and customers take their time and inspect vehicles thoroughly, protecting everyone in the process.
Importance of Patents
Patents highlight a company's unique capabilities and expertise, such as proprietary technologies, processes, or methods that the company has developed. They are particularly important for start-ups like Draiver, as they can protect the company for 20 years from anyone trying to copy technology that is critical to the new company's success.
Patents provide much-needed legal protection that can help a start-up avoid costly legal disputes. In addition, they can be used to generate revenue through licensing agreements, which can diversify the company's revenue streams, and are an essential part of finding investors and opening up new markets.
"When you have patent protection, you can have more honest discussions with potential investors and suppliers without the worry of getting numerous NDAs signed in advance or having your idea misappropriated," says Haque. "Your technology is what's giving you a competitive advantage, and how you will increase your revenue and profit and ultimately grow your business."
As such, founders looking to safeguard their unique technology should consider applying for patents, as they help founders protect their business's market position, and allow for more transparent and clear communications that can help build trust with investors.
Draiver is a leading vehicle delivery company offering best-in-class AI logistics software with a vetted, insured driver marketplace. The company's full suite of services is available in North America and South America. Clients include global Fleet and Rental Companies, OEMs, Large Automotive Groups, and single location businesses. (www.draiver.com)