UnitedCorp claims all rights to dedicated mobile content sharing technology with digital integration of users' selectable external content based on their location
MIAMI, July 11, 2017 /CNW/ - Miami-based United American Corp (UnitedCorp), (OTC: UAMA) announced today that it will enforce on patent infringement against Snap Inc. (NYSE: SNAP) related to Snap's use of geo-location based filters.
UnitedCorp holds all technology rights related to dedicated mobile content sharing technology with digital integration of users' selectable external content based on their location through its wholly-owned subsidiary, iFramed Canada Ltd. The technology is the basis for SnapChat's ''GeoFilters'' for photos and videos based on geo-location. Snap Inc. is a provider of image and video‐based social media services with head office in Venice, California.
On June 28, 2017, UnitedCorp acquired iFramed, from Investel Capital Corp in a share exchange agreement.
The suit originally filed by Investel in the Federal Court of Canada, claims that Snap Inc. continues to infringe on certain claims of patent No. 2,887,596, entitled "USER CONTENT SHARING SYSTEM AND METHOD WITH AUTOMATED EXTERNAL CONTENT INTEGRATION". iFramed also holds priority rights as of January 3, 2014 to the technology in key jurisdictions including the United States, China, Australia, Japan, India, Canada and throughout Europe. UnitedCorp is seeking remedies in the form of monetary damages for past infringement, as well as injunctive relief prohibiting Snap Inc. from continuing to infringe on the patent.
The lawsuit states that Snap has focused its core monetization strategy on the basis of the iFramed patent portfolio. According to its SEC registration statement, Snap states: "We monetize our business primarily through advertising. Our advertising products include Snap Ads and Sponsored Creative Tools like Sponsored Lenses and Sponsored Geofilters''. Even though the company has been on notice since August 2016 it has failed to disclose any of this information as a material event in any of its SEC filings.
While Snap does hold a US patent for an ''Apparatus and method for supplying content aware photo filters'' as well as a recently acquired patent entitled ''Methods and systems of providing visual content editing functions'' neither of these permits the use of a dedicated mobile content sharing technology with digital integration of users' selectable external content based on their location as is used in the Snap GeoFilters.
"In simple terms, even the existing Snap patents do not allow for Snap to do what it is doing without infringing iFramed technology," stated Benoit Laliberte, UnitedCorp's President. "We are uncertain on what basis Snap asserts its right to use it."
He went on to say, "We have our own business plan for iFramed to provide cutting-edge services to social media users. iFramed is a powerful global system and is extremely compelling to both advertisers and social media users. The geo-location data gathered from users and resulting insertion of advertiser's content into posted picture which allows users to make money on their content is vital and key to the use of social media in the future. The lawsuit reflects our continued commitment to protect our investments by vigorously pursuing action against the unauthorized and unlicensed use of our intellectual property, in any jurisdiction where we hold priority rights."
UnitedCorp is also reviewing its rights and options with respect to use of the technology on other major social media further to the global trend for the next generation of integrated geo-localization branded user generated content into their platforms.
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 and information technologies. For more information, visit: www.unitedcorp.com
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
For further information: Source: Lawry Trevor-Deutsch, SVP Corporate Affairs, United American Corp; Contact: Jenna Trevor-Deutsch, Director, Investor Relations, [email protected]