Building a Business Empire with my Technological System

Chapter 241: Official Statement

January 17th, 2028.

Within hours of VirtuReal Innovations filing their lawsuit, news outlets around the world picked up the story. Headlines blared across major news websites, and TV channels interrupted regular programming to report the breaking news.

At the CNN headquarters.

"Good afternoon. In breaking news, VirtuReal Innovations has filed a lawsuit against Reyes Corporation, alleging that the company has copied their proprietary VR technology. This lawsuit comes after an independent review team identified several sections of code in Reyes Corporation's VR system that are allegedly identical to VirtuReal's algorithms.

For more on this developing story, we go live to our technology correspondent, Rachel Adams."

"Thanks, John. The lawsuit filed today by VirtuReal Innovations against Reyes Corporation is shaking the tech world. VirtuReal claims that Michael Reyes, the CEO of Reyes Corporation, has stolen their proprietary algorithms to develop his company's VR technology. The evidence presented includes logs and documentation that VirtuReal believes prove their case.

This legal battle could have significant ramifications for both companies and the broader tech industry. Back to you, John."

At BBC.

"In a major legal confrontation, VirtuReal Innovations has taken legal action against Reyes Corporation, accusing the company of intellectual property theft. The lawsuit centers around allegations that Reyes Corporation's VR system uses code identical to that of VirtuReal's proprietary algorithms. Our tech correspondent, Laura King, has the latest."

"That's right. VirtuReal Innovations is asserting that Reyes Corporation has copied critical sections of their VR technology. This lawsuit could be a landmark case in the tech world, particularly given the high stakes involved. Both companies are at the forefront of VR technology, and this legal battle could influence the future of the industry. Stay tuned as we follow this developing story."

At Fox News.

"Breaking news: VirtuReal Innovations has filed a lawsuit against Reyes Corporation, accusing the company of stealing their VR technology. This lawsuit has sent shockwaves through the tech community. Let's go to our correspondent, Mike Hanson, for more details."

Thanks. The lawsuit filed by VirtuReal Innovations today is a major escalation in the ongoing battle over VR technology. VirtuReal alleges that Michael Reyes and his team at Reyes Corporation have used their proprietary algorithms to develop their own VR system. The evidence presented includes detailed comparisons of the code, which VirtuReal claims are identical.

This case could have serious implications for both companies and the entire VR market. We'll keep you updated as more information becomes available."

On social media, the news spread like wildfire. Hashtags like #VirtuRealvsReyes, #TechLawsuit, and #VRBattle trended within hours. Twitter was abuzz with opinions, speculations, and reactions from tech enthusiasts, industry experts, and the general public.

@TechGuru:

"Wow, the lawsuit between VirtuReal and Reyes Corporation is huge! Can't wait to see how this unfolds. #VirtuRealvsReyes #TechLawsuit"

@Innovator101:

"Kind of shocked by the allegations against Reyes Corp. Always thought they were the leaders in VR innovation. #VRBattle #TechNews"

@CodeMaster:

"If the claims are true, this could be the biggest tech scandal of the decade. #VirtuRealvsReyes #IntellectualProperty"

@VRGamer:

"As a VR enthusiast, this lawsuit is worrying. Hope it doesn't stall future developments in VR tech. #VRBattle #VirtuRealvsReyes"

Inside the Reyes Corporation headquarters, the atmosphere was tense. Michael Reyes and his team were glued to the screens, watching the news reports and monitoring social media reactions.

"Sir, the board of directors is not pleased with what they are seeing on the television and their phones," Juliet said

Michael turned away from the screen, frustration evident in his eyes. "I can't say I blame them. This lawsuit is a major blow, and the media frenzy isn't helping. We need to get ahead of this."

Juliet nodded. "We need to release a statement immediately. Something that reassures our stakeholders and the public that we are confident in our position."

Michael took a deep breath, trying to steady his nerves. "Agreed. Bridget, get the PR team to draft a statement."

***

At the lobby hall of the Golden Topper, Michael stood in front of a podium with microphones from various news outlets. His face was calm, but his eyes betrayed the intensity of the situation. He took a deep breath and began speaking as cameras flashed and reporters jotted down notes.

"Good afternoon. Thank you all for coming on such short notice. As many of you are aware, VirtuReal Innovations has filed a lawsuit against Reyes Corporation, alleging that we have copied their proprietary VR technology. I want to address these allegations directly and transparently.

First and foremost, let me state unequivocally that Reyes Corporation has not, does not, and will not engage in the theft of intellectual property. Our development process is rigorous, isolated, and strictly controlled. We have extensive documentation and logs that detail every step of our development, proving the originality of our work.

We are more than willing to cooperate fully with any legal investigation. We are confident that a thorough review of our records will demonstrate that our technology is unique and independently developed. Our commitment to innovation and integrity is unwavering, and we stand by our work.

I also want to assure our stakeholders, partners, and customers that we are taking this matter very seriously. We have already engaged with top legal experts to prepare our defense, and we will fight vigorously to protect our reputation and our innovations.

Thank you for your time. I will now take a few questions."

The reporters from various Philippines news outlet started raising their hands.

"Mr. Reyes, Anne Curtis from ABS-CBN. Can you provide any specifics about the documentation you have that proves the originality of your work?"

"Yes, Anne. We have detailed logs of our development process, including timestamps, project notes, and internal communications. These documents outline the progression of our work from conception to the current product. We are prepared to present these documents as evidence in court."

Next, a reporter from GMA Network stood up.

"Jessica Soho, GMA Network. How do you respond to the specific claims that the code sections found in your VR system are identical to those of VirtuReal?"

"Jessica, I understand the seriousness of these claims. However, our development was done in complete isolation, without access to VirtuReal's proprietary information. Any similarities are purely coincidental, and our documentation will support this. We are also bringing in independent experts to review and verify our code."

A reporter from The Philippine Star followed.

"Mike Navallo, The Philippine Star. Do you think this lawsuit could damage Reyes Corporation's reputation and market position?"

"Mike, while this lawsuit is a serious matter, we believe in the strength and integrity of our company. Our focus is on providing innovative and high-quality products to our customers. We are confident that once the facts are presented, our reputation will remain intact."

A reporter from Rappler then asked.

"Pia Ranada, Rappler. What steps are you taking internally to ensure that your employees are fully aware of the importance of intellectual property and to prevent any potential issues in the future?"

"Pia, we have always emphasized the importance of intellectual property through rigorous training and strict internal controls. Moving forward, we will reinforce these measures and ensure that all employees are fully aware of their responsibilities and the importance of maintaining the highest standards of integrity."

The questions continued for some time, with Michael addressing each one calmly and confidently. Finally, he concluded the press conference.

"Thank you all for your questions. We will continue to keep you updated as this situation develops. Reyes Corporation remains committed to transparency and integrity. Thank you."