|A leading mobile gaming provider of lottery, SMS and interactive games, Million-2-1 Ltd, has announced that it has secured a South African patent for its reverse auction mobile game mechanic, 'How Lo?'.|
Awarded after two years of struggle, the patent legally attributes the reverse auction model to Million-2-1 and all companies wishing to run reverse auctions in South Africa will now have to obtain a license first.
The UK firm stated that it also has patents pending for the US, Canada, Australia and Singapore and is expanding its operations internationally with a number of partnership and license agreements already in place with companies that operate in those territories.
Million-2-1 invented the concept of the lowest unique bid auction and has been successfully operating games such as How Lo? with various media partners for three years. The company has completed millions of transactions and given away more than $3.9 million in prizes in that time including Aston Martin, Ferrari and Porsche automobiles and a range of consumer electrical goods.
'Securing a patent for the reverse auction mechanic in South Africa is a significant business step for us,” said Scott Davies, Director and Co-Founder of the Manchester-based company.
“It gives us the opportunity to enforce our own strict consumer centric values on how reverse auctions are executed. This is a cornerstone to offering a game that appeals to everyone, has longevity and is operated within the local regulatory framework.'