MVCONNECT, LLC (MVTRAC), Digital Recognition Network, Inc. (DRN) and Vigilant Video (Vigilant) Announce a Transaction Related to a License of MVTRAC’s Historical Tracking Patent

For Immediate Release

 Palatine, IL (February, 1 2012) MVTRAC, a premier provider of cradle-to-grave location and recovery solutions and home of the neural ALPR system called The Intelligent Data Network™, is pleased to announce a transaction between MVTRAC, DRN and Vigilant, involving a license of MVTRAC’s ALPR historical tracking patent. The undisclosed terms of the transaction conclude all litigation between the parties.

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Dismantling Atomic Bombs – 8 Things in the Repossession Process that Get Lenders Sued

To the outside world, collections looks pretty simple, call people and guilt and threaten them into paying money they owe. The reality is, collections is perhaps the most complicated and litigious area of any lending institution. Think of all of the interconnecting regulations pertaining to bankruptcy, credit reporting, the FDCPA, the UCC, California’s Reese Levering Act and the archaic FTC rules on telemarketing and they’ll see just how simple it really is.

Amazingly, most of us dance through this legal minefield daily with no trouble at all. Regardless, it is always wise to put on our “thinking caps” from time to time and keep the thought processes of both ourselves and our staff sharp.

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