Assignment history

Inventors

• Rabih S. Ballout (Individual)

Original assignee

The original assignee is listed as "Individual" on Google Patents and "Paygeo LLC" as the current assignee. The patent describes a "PayGeo service" and "PayGeo platform" for financial transactions, including transferring cash and digital currency, redeeming coupons, and managing finances. It's unclear if PayGeo LLC shipped a product embodying the claims at the time of the original filing or issuance.

Assignment timeline

• 2024-10-18 (executed) / recorded 2024-10-18 — Reel 063717/0126

  • Conveyance: Assignment
  • Assignor: Rabih S. Ballout
  • Assignee: Paygeo LLC
  • Correspondent: Firas Samiat, Samiat & Associates PC, 1727 R ST. NW, Washington, DC 20009. This correspondent has not recurred in this chain.
  • Context: Transfer to operating company

• 2025-03-25 (executed) / recorded 2025-03-25 — Reel 064284/0488

  • Conveyance: Security Agreement
  • Assignor: Paygeo LLC
  • Assignee: Piccadilly Patent Funding LLC, AS SECURITY HOLDER
  • Correspondent: William C. Rowland, Law Office of William Rowland PC, 15436 N. Florida Ave. STE 103, Lutterbach, FL 33549. This correspondent has not recurred in this chain.
  • Context: Securitization

Timeline diagram

timeline
    title Ownership of US 10937018
    2020 : Application filed
    2021 : Issued to Paygeo LLC
    2024 : Assigned to Paygeo LLC
    2025 : Securitized to Piccadilly Patent Funding LLC

NPE / troll-pattern signals

1. Shell-entity transfer — unclear. The initial assignment is from an individual to Paygeo LLC. While "LLC" can suggest a shell entity, without further information on Paygeo LLC's operations or address, it's not possible to definitively label it as a shell. The securitization to "Piccadilly Patent Funding LLC, AS SECURITY HOLDER" in 2025-03-25 also does not definitively indicate a shell entity for assertion purposes, as security agreements can be part of normal business operations.

2. Known asserter in the chain — not present. Neither Paygeo LLC nor Piccadilly Patent Funding LLC appear on public NPE lists as of today's date.

3. Repeat correspondent across the chain — not present. Different correspondents are listed for the two recorded assignments. Firas Samiat of Samiat & Associates PC is listed for the 2024-10-18 assignment, and William C. Rowland of Law Office of William Rowland PC is listed for the 2025-03-25 security agreement.

4. Cascading transfers — not present. There are only two recorded transfers, not multiple consecutive assignments through chained LLCs within a short period.

5. Pre-litigation transfer — unclear. While the Google Patents page mentions litigation, it states "First worldwide family litigation filed" and "US case filed in Texas Eastern District Court" in 2025. The securitization event to Piccadilly Patent Funding LLC occurred on 2025-03-25, which is less than 6 months before May 25, 2026. However, the exact filing date of the first suit is not provided in the readily available information, and it is unclear if the securitization directly preceded litigation.

6. Bankruptcy fire-sale — not present. There is no indication of the original assignee or any subsequent assignors filing for bankruptcy.

7. Privateering — not present. No evidence in the assignment records or Google Patents suggests privateering activity.

8. Defensive aggregator (anti-NPE) — not present. The chain does not end at any known defensive aggregators.

Verdict

Insufficient data. While there is an assignment from an individual to an LLC (Paygeo LLC) and a subsequent security agreement to Piccadilly Patent Funding LLC, there are no strong, definitive signals to confidently categorize this as an NPE pattern. The information available about the operating status of Paygeo LLC is limited, and there is no recurrence of correspondents or evidence of cascading transfers to known asserters. The timing of the securitization relative to the reported litigation is suggestive but not conclusive without more precise dates.

https://assignmentcenter.uspto.gov/