UnitedCorp Announces that the iFramed US Patent Application has been Received at the Office of Publication of the USPTO and is now ready for Issuance
MIAMI, FL -- January 11, 2017-- InvestorsHub NewsWire -- Miami-based United American Corp (UnitedCorp), (OTC: UAMA) announced today that the iFramed US Patent Application has been received at the Office of the Publication of United States Patent and Trademark Office ("USPTO") and the patent is now ready for issuance. This last step follows the reception of the Notice of Allowance received on October 3, 2017.
The company expects to soon begin its direct enforcement action against US social media companies that are using a dedicated mobile content sharing application which acquires and share new user images or videos, but also gives users the ability to select between distinct locally sourced external content items based on their location and to be integrated within their own content before sharing. In addition, the company has recently placed Facebook (NASD: FB) and Instagram on notice to cease and desist using "Frames" and "Geostickers" for its social media users.
The company commenced legal proceedings in Canada in August 2016 against Snap Inc. (NYSE: SNAP) and the status of the litigation is progressing rapidly on the patent infringement lawsuit (Canadian Federal Court File No. T-1406-16) based on infringement of Canadian Patent No. 2,887,596. Snap has defended the action. The companies have each met certain deliverables and undertakings which were due by November 30, 2017 and the litigation is currently in the discovery stage with the next step being the examinations for discovery which is to be completed by February 28, 2018. A case management conference is to be held at the beginning of May 2018 to address any motions arising for the examinations for discovery and further steps to bring this matter to trial.
The iFramed patent portfolio has been appraised by TechInsights at US$ 1.04B and United Corp's wholly owned subsidiary iFramed Canada has the exclusive rights on the iFramed technology. UnitedCorp will continue to pursue and enforce legal actions on Snap's infringement of the iFramed technology. The current lawsuit states that Snap has focused its core monetization strategy on the basis of the iFramed patent portfolio.
The patent issued under the trade name "iFramed" (U.S. Patent Application Publication no. US 2016/0359987) and was derived from International Application Publication No. WO2015/100496 filed December 30, 2014 and claims a first priority date of January 3, 2014 which was allowed by the USPTO on October 3, 2017. The corresponding patent is scheduled to be issued within the following weeks. An extensive list of prior art references were cited, reviewed and considered by the USPTO during this process, including those raised recently by Snap's counsel in the Canadian legal proceedings.
Other iFramed patent applications are currently pending in China, India, Australia, Europe and Japan.
iFramed is a dedicated mobile content sharing application and platform which allows its users'-originated content to be posted in real time on their social media accounts with a digital integration of external content selectable by its users based on their geo-location. iFramed, the world's first and only social media posting gateway technology and next generation social network content sharing platform.
UnitedCorp is a Florida-based holding and management company focusing on telecommunications, information technologies and blockchain technology.
This news release contains forward-looking statements that are subject to various risks and uncertainties. The Company's actual results could differ materially from those anticipated in such forward-looking statements as a result of numerous factors that may be beyond the Company's control. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made, and the Company assumes no obligation to update forward-looking statements should circumstances in management's expectations or opinions change.
SOURCE United American
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iFramed Social Media Posting Gateway Technology