DEERFIELD, Ill., May 5, 2011 /PRNewswire/ -- Textura Corporation, the leading provider of collaboration solutions for the construction industry, reported that the United States Patent and Trademark Office (USPTO) has awarded Textura its 12th US patent related to Textura's Construction Payment Management (CPM) application. The patents can be accessed via links from Textura's website at http://www.texturacorp.com.
The latest patent addresses the document tracking features of CPM and is a complement to the eleven earlier patents, which address other key features of CPM. The patents expire from 2025 to 2027. All patents are owned by Textura Corporation.
Patrick Allin, Textura Chairman and CEO said, "Enhancing and enforcing the intellectual property coverage for our applications and services is an important strategic priority for our company. Even before we formally established Textura in 2004 we filed a number of initial patents. We believe that our leading edge technologies reinforce our competitive market position. These patents and patents pending establish that our unique intellectual property is protected and add substantial value to Textura's growing intellectual property portfolio."
"Textura is committed to continuing to bring innovative, collaborative software solutions to the construction industry, improving business performance for our clients," Allin added. "Since founding Textura our on-going research and development has delivered additional patents that support our value proposition. While we have a number of additional patents pending on CPM, we also have patents pending on our newest application, Pre-Qualification Management. We believe these innovations will contribute to PQM also becoming an industry standard to everyone's benefit."
Textura uses a combination of intellectual property safeguards, including patents, copyrights, trademarks, third party non-disclosure agreements and employee confidentiality agreements to protect it intellectual property.
Founded in 2004, Textura has developed the only robust collaborative industry solutions for construction payment management, Textura—CPM, and for pre-qualification management, Textura—PQM.
Textura—CPM electronically integrates all construction payment management process components – billing, lien waiver collection, statutory declaration collection, sub-tier waivers, compliance management, and payments – into one seamless work flow. CPM helps contractors and others involved in construction projects realize significant efficiency benefits from automation and streamlining; and, risk reduction from improved control and visibility.
Textura—PQM automates the entire pre-qualification process for everyone by facilitating the electronic submission, review, approval and updating of all pre-qualification documents. PQM's online data management system speeds the pre-qualification process by allowing subcontractors to enter their information one-time into a database which can then produce tailored pre-qualification forms that provide specific information required by individual general contractors. PQM provides contractors with dramatic efficiency benefits and a foundation for better information and decision-making. PQM supports MWBE programs. Please visit our website at www.texturacorp.com.
SOURCE Textura Corporation