Textura Corporation Awarded 19th International Patent

DEERFIELD, Ill., May 26, 2011 /PRNewswire/ -- Textura Corporation, the leading provider of collaboration solutions for the construction industry, reported that to date 6 other countries have awarded 19 patents related to Textura's Construction Payment Management (CPM) application.  Along with the 12 US patents, this brings Textura's total number of patents to 31.  The patents can be accessed via links from Textura's website at http://www.texturacorp.com.  

The latest international patent addresses the specified billing capability of CPM.  This allows general contractors to assist in the creation of a subcontractor's invoice, typically used on projects with milestone-driven billing arrangements.  This international patent complements prior patents which address other important features of CPM.  All patents are owned by Textura Corporation.  

Textura Chairman and CEO, Patrick Allin, commented, "From the beginning we wanted to be in a position to support our clients who have international operations.  We also felt it was important to ensure intellectual property protection in countries with noteworthy construction activity.  Our current international portfolio of patents and patents pending covers 14 countries or geographic areas that are the most likely initial candidates for CPM.  We will expand this coverage as our client base expands and seeks to use our products and services in additional geographies."

Allin added, "Improving and enforcing our intellectual property coverage is an important strategic priority for Textura.  We will continue to develop innovative, collaborative solutions that help our clients improve their business performance.  Our growing number of patents awarded and pending establishes that our technology is unique.  This unique technology underpins our competitive market position in the US and internationally.  As we bring new solutions to market we will continue to expand our intellectual property coverage globally."

Textura uses a combination of intellectual property safeguards, including patents, copyrights, trademarks, third party non-disclosure agreements and employee confidentiality agreements to protect its intellectual property.  

About Textura

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