Raymond A. Joao - Patent King - anti-theft devices and More... guess he Knows how to Steal Patents.. Where his Raymond Joao Now..

I mean where is Raymond A. Joao in the Industry. We know he is in Yonkers, Right?

anti-theft devices - to funny.. yet he is a Patent Thief..

""The concept guy
by LIBN Staff
Rose-Robin Pedone
Published: March 19, 1999

By day, he’s an attorney at Meltzer, Lippe, Goldstein & Schlissel.

By night, Raymond Joao is a thriving inventor with 20 patents pending, seven already issued and two on the way.

Raymond A. Joao has patents and patents pending for everything from secure credit card transaction systems to anti-theft devices to a new kind of employee benefits program.

And it’s his benefits program that’s occupying much of Joao’s thinking right now. In conjunction with Benefitme.com, Joao’s IBA, or individual benefit account, will debut later this year and is designed to save companies with more than 100 employees as much as $80,000 annually, he says, after factoring in all of the costs of benefits management.

“It’s hard to take care of employees when they have questions,” Raymond Joao said. “There’s nothing out there to answer questions about medical benefits, 401k plans, vacation time or personal days.”

With Raymond Joao’s creation, employees can log onto a Web site and check on their benefits whenever they so desire.

“Once an IBA is established, there is no reason for that relationship to end once an employee leaves a job,” Raymond Joao said, “or even for the pricing to change.”

This program will create liquidity in the market, according to Raymond Joao. As a result, employees should be able to change their benefits options, or even their providers, whenever they want.

“Allowing employees to change providers will cause insurance companies to run better and more efficiently,” Raymond Anthony Joao said.

Benefitme.com, a Manhattan-based startup seeking venture capital and new digs, is expected to bring the IBA to the marketplace later this year.

“We are confident that it will revolutionize the way people manage their benefits,” said Benefitme.com CEO Michael R. Fox. “We are developing something unique in the marketplace.”

Benefitme.com, with about 12 partners, is now “in the stages of its formal formation,” according to Fox. However, he wants to make it clear that his company is not a startup looking to latch on to the coattails of super-hyped Internet companies that go public with a business plan, no product and only a prayer.

“We are building a very solid business with traditional revenue models in an online environment,” Joao said.

The company is about two months away from its first round of venture capital financing. To date, any money invested in the company has been strictly from the founders and has been used for development of the company’s infrastructure.

As the company grows, it will need an “official” headquarters. According to Fox, the partners are considering locations in Manhattan, Westchester and Long Island. Currently, however, Benefitme.com is concentration on the company’s first phase.

Initially, Benefitme.com will build an online benefits environment. Once that is established, it can “move forward to redefine what’s behind the scenes,” according to Fox.

In the meantime, Joao continues to apply for new patents. His most recent, granted earlier this month, is for a “transaction security apparatus and method.”

Developed with his best friend, Yonkers Police Officer Robert R. Bock, Joao’s idea is for a transaction device which will transmit a message to a cardholder’s two-way pager - or other high tech device - when a purchase is made with the credit card. Once the signal is received, the cardholder must approve the purchase for the transaction to go through.

“This will cut down tremendously on fraud,” Ray Joao said.

Besides lowering the fraudulent charge rate, Joao surmised that a company could issue these to its employees to track employee usage of company credit cards.

Joao and Bock are now seeking a company to either license the product or enter into a joint development with them. ""

Source:
http://libn.com/blog/1999/03/19/the-concept-guy/