The system and method of the present invention provide integrated or embedded components, for electronic (or other) products, each operable to securely store and selectively provide access to, a unique ID (UID) previously assigned to its corresponding specific product, where the UID of each product is registered with one or more particular UID registration centers over at least one communication network, and associated with one or more data records stored in a corresponding database file at the particular UID registration center, the data records being inclusive of information related to the product, the product purchase history, current ownership, etch, and wherein one or more authorized parties may subsequently advantageously utilize at least one UID (and optionally a verifier) to access, verify, edit, transfer, transmit, and / or otherwise manage at least one information item related to the one or more corresponding registered products in their UID registration center database file. Also provided is an optimized process for verifiable transfer of ownership rights between a product's authorized owner and intended recipient, the transfer process being implemented over at least one communication network with graphical user interfaces provided for each party, where the transfer of ownership rights involves association of the product's UID with the receiving party's data record and confirming ownership transfer, and optional transfer of additional product-related information from the former product owner to the current recipient.