LOCATION-BASED RECOVERY DEVICE AND RISK MANAGEMENT SYSTEM FOR PORTABLE COMPUTING DEVICES AND DATA
A device and software utilizing Global Positioning Satellite (GPS) technologies for monitoring and recovering portable computing devices and, a method and system for acquiring such devices, protecting data on such devices, and for compensating owners of devices. A GPS mechanism of the invention provides real time tracking of missing devices that may be coordinated with security agencies to intercept and recover missing computing devices. When a stolen device is unrecoverable, the invention may receive a signal to initiate data recovery where a wireless network is available to recover data for the owner. Alternatively, the GPS mechanism instructs the device to encrypt or destroy stored data files to prevent commercial espionage or privacy violations. The invention discloses a software system and method for computing a purchase price of the GPS mechanism, computing compensation for loss of the device and lost data.
1 - 16 . (canceled)
17 . A method for insuring a portable computing device having electronically stored records comprising the steps of:
purchasing an insurance policy for the portable computing device;
providing a global positioning satellite device in the portable computing device, the global positioning satellite device communicating with one or more global positioning satellite arrays and including a signal reception and transmission assembly and a circuit element in communication with the electronically stored records, and the signal reception and transmission assembly indicative of at least one of the theft and the loss of the portable computing device;
receiving a signal at the global positioning satellite device; and
the global positioning satellite device transmitting a second signal in response to the signal, causing an insurance carrier to replace at least one of the portable computing device and the economic value of the portable computing device.
18 . The method of claim 17 , further comprising the step of causing the global positioning satellite device to determine a current position of the portable computing device and transmitting the current position as a location signal.
19 . The method of claim 18 , wherein the global positioning satellite device continues to determine the current position of the portable computing device at predetermined intervals and output a corresponding location signal.
20 . The method of claim 18 , wherein the global positioning satellite device, in response to the signal, prevents the use of the electronically stored records.
21 . The method of claim 20 , wherein the c global positioning satellite device prevents the use of the electronically stored record, by eradicating the electronically stored record.
22 . The method of claim 20 , wherein the global positioning satellite device prevents the use of electronically stored records by encrypting the electronically stored records.
23 . The method of claim 21 , wherein the global positioning satellite device determines a predetermined time interval from receipt of the signal and eradicates the electronically stored records after the predetermined time interval.
24 . The method of claim 22 , further comprising the step of receiving a decryption signal and the global positioning satellite device decrypting the electronically stored records.
25 . The method of claim 21 , wherein the electronically stored records include at least one of data, software programs, and operating systems.
26 . The method of claim 22 , wherein the electronically stored records include at least one of data, software programs, and operating systems.
27 . The method of claim 17 , wherein the terms of the insurance policy are determined as a function of at least one of a cost of said global positioning satellite device, a cost of installation of said global positioning satellite device, a cost of a monitoring service, a cost of communications from the monitoring service to the one or more global positioning satellite arrays, a cost of communication between a global positioning satellite and a covertly installed global positioning satellite device, and a future time based value for information and data maintained or to be maintained on said portable computing device for which an owner will be compensated in the event of theft or loss of said portable computing device.
28 . The method of claim 17 , wherein the terms of the insurance policy are determined as a function of a cost of communications from the monitoring service to the one or more global positioning satellite arrays.
29 . The method of claim 17 , wherein the terms of the insurance policy are determined as a function of a cost of communication between a global positioning satellite and a covertly installed global positioning satellite device.
30 . The method of claim 17 , wherein the terms of the insurance policy are determined as a function of a future time based value for information and data maintained or to be maintained on said portable computing device for which an owner will be compensated in the event of theft or loss of said portable computing device
31 . The method of claim 17 , wherein the terms of the insurance policy are determined as a function of a cost of said global positioning satellite device.
32 . The method of claim 17 , wherein the terms of the insurance policy are determined as a function of a cost of installation of said global positioning satellite device, and a cost of a monitoring service.