STOCKTON, CALIFORNIA/ March 14, 2013 / Newswire/ — Viratech Corp. (OTC: VIRA), the first open source biotech research social network platform, announced today the signing of an agreement for an exclusive license of United States Provisional Patent Application 61676934 from Health Care Intellectual Properties, LLC to Viratech, Corp, titled “Method of Acquiring, Capturing, Organizing, Indexing and Broadcasting Multiple Derivative Expression of an Idea via Social Networking.”
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, the user is able to take intellectual property, such as an original idea or invention, and leverage it in combination with user generated content (UGC) created via social networking to create multiple derivative expressions of the original idea.
Dr. Buckman, CEO of Viratech, states, “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 ensures that intellectual property is not only acknowledged and protected, but also developed in a way that would not otherwise be possible. This is due to the collective nature of collaboration around ideas. For our partners, this creates a new way of protecting and creating their Intellectual Property.”
Dr. Buckman adds, “Today, 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, biotech research has made very little progress. With our new tools, we plan to reverse this trend and allow for the rapid and open development of more research, protection, and promotion of new ideas and solutions.”
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 Viratech refers to as ‘closed source.’ “Our goal is to open up this space to invite collaboration and innovation,” adds Dr. Buckman.
Viratech has created a unique platform leveraging the utility of social collaboration in tandem with this and other innovations, to allow biotech 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, give our development partners the a new intellectual property mechanism.”
Health Care Intellectual Properties is the holding company for Dr. Buckman’s patents licensed to Viratech on an exclusive basis. This will also allow Viratech to sub-license this technology to other companies.
Dr. Buckman has written a variety of books: Find and Stop Breast Cancer, Find and Stop Diabetes, Find and Stop Body Imbalances, The Wellness Index, and other health related topics.
Viratech has a platform that can help with new technologies for licensing, sublicensing, promotion, business development, and marketing. Using this model, the Company anticipates sublicensing of the technologies from this agreement to support its model of light touch, low overhead, and make a difference for health.
About Viratech Corp.
Viratech Corp. has created the first open source biotech research social network platform. The purpose of the platform is to make it possible for individuals or smaller companies to compete with larger companies in the race to patent new medicines or technology. This has been made possible by leveraging social collaboration in a way that allows new biotech ventures the ability to protect their intellectual property, then simultaneously allowing those same ventures the ability to promote and crowdsource their development.
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.
http://viratech.org
Email Contact: info@viratech.org
209-477-3030