Blockchain Integrated Partners LLC announces issuance of new patent for Virtual Data Rooms

By AIT News Desk On Sep 23, 2021

Blockchain Integrated Partners, LLC announced that the US Patent and Trademark Office has issued a U.S. patent for its distributed ledger technology, supporting its efforts to help collect and protect critical information connected to high-value assets. Titled “Systems and Methods for Data Validation and Assurance,” (U.S. patent 11,061,886), the technology makes document management and preservation more accurate and efficient, while lowering costs.

The patent supports Blockchain Integrated Partners (BIPs) business model, which includes offering the first virtual data room (VDR) linked to blockchain technology provided by TruDoss, LLC, BIPs operating company. VDRs are digital repositories for the collection, display, and review of documents. Linking the VDR with TruDoss’ distributed ledger, content owners may transfer ownership of chains and create tradable blocks of information, monitored, and updated at threshold intervals.

BIPs Co-Founder Paul Hartzell notes, “VDR’s are a global industry today, serving as a short- term digital platform for due diligence in corporate mergers and acquisitions (M&A) and other capital-raising transactions. Our patent is the foundation for the most significant enhancement to the evolution of the data room market in years. It will allow VDR customers to preserve their work inside data rooms and keep receiving benefits for years,”

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BIPs Co-Founder Rob Chepak added, “We are committed to thinking creatively to help customers get more and more value from their data rooms. We are aggressively looking for licensing partnerships to implement this technology.”

BIPs delivers services in partnership with TransPerfect, a $852M revenue company. From offices in over one hundred cities on six continents TransPerfect is the world’s largest provider of language and technology solutions for global business. “Information should be treated like a natural resource; protected and preserved for future use,” said TransPerfect President and CEO Phil Shawe. “TransPerfect’s technology in partnership with TruDoss gives our customers a way to do that, whether in response to economic crisis or a big opportunity.”

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