GoCodes Issued US Patent for Technology System to Facilitate Return of Lost or Stolen Assets

3 min

For immediate release

4/8/2015 8:33 AM Central Daylight Time

MINNETONKA, MN — On March 10, 2015, GoCodes, Inc. was granted a utility patent (8,973,813) by the United States Patent Office for an invention which enables individuals and organizations to securely track and recover lost and stolen assets through the use of web-software, smartphones and Quick Response (QR) bar codes.

Following the invention, GoCodes developed two lost and found solutions: one aimed at helping consumers and the other at helping organizations. The consumer product was launched in January 2012 and the commercial product in December 2012. GoCodes services are now being used to track and protect the assets of customers in the USA and Canada as well as all English speaking countries worldwide.

How does GoCodes help customers?

Many organizations report that over 10% of companies’ portable assets are lost or stolen every year costing companies billions of dollars as well as reducing their effectiveness. The GoCodes solution helps save companies time and money by significantly reducing these losses.

GoCodes has done this by developing a complete web-based solution incorporating their invention which enables organizations to track and manage their assets and inventory using their existing smartphones and computers. Unlike competing solutions, GoCodes allows companies to get up and running immediately without having to purchase additional hardware and software.

For example, construction and contracting companies report losing a wide variety of tools and equipment as they are moved from person to person and from job site to job site. During this process accountability is lost and many items are never seen again.

GoCodes helps construction companies solve this issue by providing tags for every tool and piece of equipment. The QR coded tags are then tracked using GoCodes’ patented and easy to use system which allows the equipment to be quickly and easily checked-out to specific employees using just a smartphone. During this checking process the system captures the GPS location of the tool and maintains a complete history of the asset’s information, chain of accountability, and location. This information can be viewed and maintained from anywhere ensuring that a comprehensive and accurate inventory is maintained.

In another example, schools and higher education institutions are faced with the challenge of monitoring expensive IT equipment including iPads and tablets, multi-media tools, reference books, and other equipment which are continuously re-assigned to students and faculty on a regular basis. Keeping abreast of these valuable assets is made simpler with GoCodes, which is why so many schools are now using GoCodes.

GoCodes was founded by British husband and wife team, Todd and Nadine Penny, who moved to Minnesota in 2006 from Denver, Colorado. Formerly a corporate executive specializing in software development, Mr. Penny developed a passion for smartphones, QR codes, and web-based software and began developing GoCodes with Nadine and another founder in 2011.

“Customers always amaze me with how they have implemented GoCodes. We see GoCodes used to track assets costing a few dollars all the way to multi-million dollar pieces of equipment,” said Todd Penny. “We’re excited to learn how we can help companies improve their businesses by reducing asset loss.”


GoCodes provides a complete single-vendor asset and inventory tracking solution that harnesses the power of QR codes, mobile devices, and cloud-based SaaS software. GoCodes was founded in 2011 in Minnesota by husband and wife entrepreneurs Todd and Nadine Penny. Today GoCodes has two divisions, a consumer lost and found service and a commercial asset and inventory tracking solution. GoCodes serves over 200 organizations in North America, Canada, United Kingdom, South Africa, Australia, and New Zealand and protects over 150,000 assets.


Todd Penny

[email protected]



About GoCodes

GoCodes is the industry leader in tool tracking. We provide customers with the ultimate single vendor solution that includes cloud-based software, top-rated smartphone scanner apps and rugged QR code tags.

We pride ourselves on delivering a personalized service, cutting-edge technology and software that is easily used by your entire team.

GoCodes ensures our customers achieve success in their tool management projects every time.

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