From: Jeff Lenard [[email protected]]
Sent: Friday, February 13, 2004 9:56 AM
Subject: NACS press release: PCATS and NACS Sign Intellectual Property
Agreement
FOR IMMEDIATE RELEASE NACS Contact: Jeff Lenard
February 13, 2004 (703) 518-4272
[email protected]
PCATS Contact: John Hervey
(703) 518-4297
[email protected]
PCATS and NACS Sign Intellectual Property Agreement
ALEXANDRIA, Va. - On February 10, the National Association of Convenience Stores (NACS) and Petroleum Convenience Alliance for Technology Standards (PCATS) signed an intellectual property transfer agreement that ensures that the development and maintenance of standards work initiated under the NACS Technology Standards Project will continue.
Under terms of the agreement, signed by NACS Senior Vice President of Finance & Systems Brian Kimmel and PCATS Executive Director John Hervey, PCATS will continue to "develop, maintain and implement global technology standards for the benefit of retailers and their suppliers" and "promote and preserve the creation and implementation of interoperable global technical solutions to meet the needs" of the industries and their technology vendors. Also, PCATS will pay NACS a sliding royalty rate, based on a sliding revenue scale, for the intellectual property that NACS transferred to PCATS upon its establishment as a separate entity on January 1 when PCATS non-dues revenue exceeds $1 million per year.
PCATS, which currently has 76 retailer and supplier member companies, was established in late 2003 to continue the development and maintenance of standards work initiated under the NACS Technology Standards Project. Its initial project work has focused on developmental efforts in network and system integration, business-to-business document exchange and payment systems. PCATS will seek implementation of these standards by the industry's retailers and suppliers.
"I hope we are that successful in our work and that NACS can be repaid for some of its direct contribution to the technology standards effort over the past eight years and which will be continuing for the next three years," said Hervey.
"This agreement provides PCATS with what it needs to operate and gives NACS a stake in ensuring that the technology needs of the convenience store industry are addressed," added Kimmel.
PCATS is sponsoring several workshops at the 2004 NACStech conference and exposition, which takes place May 17-19 at the Gaylord Texan Resort and Convention Center in Grapevine, Texas. For more information, or to register, go to www.nacstech.com.
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The National Association of Convenience Stores (NACS) is an international trade association representing 1,900 retail and 1,700 supplier members. The U.S. convenience store industry, with over 132,400 stores across the country, posted more than $290 billion in total sales for 2002, with $181 billion in motor fuel sales.
The Petroleum Convenience Alliance for Technology Standards (PCATS) was founded in September 2003 to continue the development and maintenance of standards work initiated under the National Association of Convenience Stores' (NACS) Technology Standards Project. With more than 70 retailer and supplier members, the group's membership represents almost 20,000 convenience stores. Membership is open to any petroleum marketer, convenience store owner/operator or any of their suppliers or vendors.
Jeff Lenard
Director, Communications
National Association of Convenience Stores 1600 Duke St., Alexandria, VA 22314-3436 direct dial (703) 518-4272, fax (703) 836-4564 [email protected]; www.nacsonline.com