The Usage Rights Code (URC) gives end users in data-driven industries clear visibility and insight into how data can and cannot be used under complex licensing agreements.
San Francisco, CA, March 25, 2025 — VendEx Solutions is proud to announce the patent approval of its Usage Rights Code (URC)—a breakthrough taxonomy that digitizes and standardizes contractual data usage rights. VendEx is a San Francisco-based SaaS company with offices in New York and Charleston, SC, as well as London and Singapore.
VendEx developed the URC to solve a persistent industry challenge: the lack of a centralized mechanism for interpreting data usage rights across multiple vendors and contract formats.
“VendEx’s Usage Rights Code allows the end users inside institutions that consume data to understand how they can and cannot use the data they have purchased under these complex licensing agreements,” said VendEx CEO Richard F. Clements. “This instant and clear visibility helps firms minimize the risks of inadvertent contract breaches and penalties and will also aid in regulatory compliance measures. Critically, the URC works alongside the VID, VendEx’s patented technology that identifies the ownership and provenance of data, which is necessary for the control of intellectual property as generative AI accelerates the demand for data in training large language models.”
The Usage Rights Code empowers users to identify, source, manage, track, interpret, and transcribe the respective contractual usage rights within their industries. Industries set to benefit from the URC include financial services, broadcasting, music, film, legal, accounting, and any sector that relies on precise data licensing and compliance.
About VendEx Solutions
VendEx Solutions offers a comprehensive data and vendor management ecosystem, built upon industry-standard data identifiers and a digital directory of vendor products and services. This infrastructure supports a range of sophisticated, integrated tools and workflows for both data managers and vendors. Originating in the financial services sector, VendEx has expanded its expertise to address data provenance and usage rights across various data-intensive industries, especially as the demand for governance in generative AI and large language models intensifies.
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