STOCKTON, CALIFORNIA/July 30, 2013/Newswire/ -- Viratech Corp. (OTC: VIRA), the first open source biotech research social network platform, announced today Utility Patent Application 13952653, Title of Invention: Method of Acquiring, Capturing, Organizing, Indexing, and Broadcasting Multiple Derivative Expressions of an Idea(s) via Social Networking, July 28, 2013. This is part of an exclusive license of provisional patent 61676934 from Health Care Intellectual Properties, LLC, to Viratech.
This patent pending technology allows for the creation of a social network infrastructure to gather, share, and broadcast ideas through a social network, while at the same time protecting ownership of content.
Through the process laid out in the patent application, the user is able to take intellectual property consisting of an original idea or invention and leverage it in combination with user generated content created via social networking to create multiple derivative expression of the original idea.
Dr. Buckman, Viratech?s CEO, states, ?This intellectual property is very exciting due its importance for use in Social Networks and many other applications for medical and non-medical uses and licensing of this platform to other companies and foundations. Ideas are the engine of commerce, innovation and scientific advancement. They live in the world of the abstract until the derivative expressions of these ideas can bring them into useful and constructive existence. The complex structure laid out in this patent application ensures that intellectual property is not only acknowledged and protected, but also developed in a way that would not otherwise be possible due to the collective nature of collaboration around the idea.?
Dr. Buckman adds, ?Today, that ?better application of knowledge? has been stifled by bureaucracy, capital market inefficiency and archaic intellectual property laws, which have thwarted medical innovation. The results are obvious; compared to the advancements of the integrated circuit, cancer research has done very little. With our new tools, we plan to reverse this trend and allow for the rapid and open development more research, protection, and promotion of new ideas and solutions.?
Viratech has created a unique platform leveraging the utility of social collaboration, and in tandem with this and other innovations, to allow cancer research the opportunity for the first time to become open-sourced. Dr. Buckman explains, ?This is accomplished by allowing our development partners the ability to protect, promote and produce their research in unified online collaboration hubs known as micro social networks. Viratech?s open source platform has integrated, via an exclusive license, several intellectual property tools which, by leveraging our social collaboration network, have the ability of giving our development partners a new intellectual property mechanism.?
An analysis by The World Intellectual Property Organization (WIPO, www.wipo.int) in Geneva confirms this and estimates that, due to the high cost of intellectual property protection, only 47,000 patents or less than 1% of the estimated 4.73 million concepts annually seek a patent or patented protection. The other 4,600,000+ ideas annually seek the only intellectual property protection they can afford, which is keeping it a trade secret or what we call ?closed source.?
Viratech has a platform that can help with new technologies for licensing, sublicensing, promotion, business development, and marketing. Using this platform, Viratech members can protect their intellectual property, then use Viratech?s micro social network as a utility to promote and crowdfund the research and development to produce the new technology.
With this model, the Company anticipates sublicensing of the technologies from this agreement to support its model of light touch, low overhead, to make a difference for health.
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
Contact: Dr. Kevin Buckman
Viratech, Corp.
Email Contact: info@viratech.org
209-477-3030
