Notching a patent is a huge step for companies in protecting their products, designs or processes so that other individuals or
companies can’t create similar ideas within that same landscape.
When it comes to patents for technology, the patent process plays a crucial role in the technology’s life cycle — ranging from research and development to launching the product in the market — while also still protecting the technology itself.
Recently,
SoLVBL Solutions Inc. (
CSE.SOLV,
Forum), which has been working developing its Q by SoLVBL, a patented data authentication solution, received a US Patent for its flagship cryptographic cybersecurity product, Q by SoLVBL.
This news
comes just a few weeks after the company received notice of allowance from the US Patent and Trademark Office (USPTO) for the now-approved patent.
SoLVBL notches US Patent
Essentially, Q by SoLVBL enables its users to authenticate data in real-time. This gives users the confidence that their data has not been altered or substituted. The company’s platform can be used for a wide range of cases, including digital payments, fraud protection and as a central authority to verify data repositories and a digital chain of custody.
In a press release, the company said the patent, called “Method and System for Authentication Seal Deployment in Networked Immutable Transactions,” now confirms that SoLVBL’s intellectual property for Q, by SoLVBL, is unique and will be protected. What’s more, the patent will also generate value for the company’s continued growing intellectual property portfolio.
“This patent grant is a critical milestone for SoLVBL. It confirms to shareholders SoLVBL's ground-breaking best-in-class cryptographic cybersecurity technologies and the carrying value of one of our key assets,” Raymond Pomroy, CEO of SoLVBL Solutions, said in a press release. “SoLVBL has taken a reputational leap with the official grant of this broad, commercially relevant US patent and I'm confident it will prove to be a key steppingstone in our journey to profitability.”
The company said the patent has been two years in the making and is its next step towards future growth opportunities.
About SoLVBL Solutions
Based out of Toronto, Ontario SoLVBL Solutions is a solution engineering company that specializes in applications geared towards addressing critical data integrity problems.
The company’s flagship product, Q by SoLVBL is used in a wide range of markets with a priority on financial services, pharma, internet-of-things and other markets where protecting data from forgery is integral. Other potential applications for Q by SoLVBL include the banking and payments market due to their transaction volumes.
SoLVBL Solutions is also identifying applications in media and journalism where its application can be used in addition to solving digital forgery.
The investment corner
With a share price of C$0.17 and market capitalization of just under $23 million, SoLVBL is vastly undervalued for the work that it is doing. That being said, the company is generating market interest thanks to a 13.79 percent share price increase following its patent approval.
At a broader scale, the global cybersecurity market is estimated to grow to US$345.4 billion by 2026 thanks to increased awareness and rising investments in cybersecurity infrastructure.
With SoLVBL Solutions taking a piece of the market share — and a unique platform to boot — the Canadian-based company will be one to watch for in the coming years.
For more information,
please visit solvbl.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.