Marathon Patent Group Announces Settlement and License Agreement With Payment Terminal CompanyShare this:
ALEXANDRIA, VA -- (Marketwired) -- 07/10/13 -- Marathon Patent Group, Inc. (OTCBB: MARA) ("Marathon"), a patent licensing company, announced today that its wholly owned subsidiary, CyberFone Systems, LLC ("CyberFone"), has entered into a license and settlement agreement with of one of the largest payment terminal companies in the United States.
The CyberFone patent portfolio cover claims that provide the right to practice specific transactional data processing, telecommunications, and network and database inventions, including financial transactions.
The patent portfolio has a well-established history of revenue generation, demonstrating the value of the assets, as well as the widespread applicability across multiple industries. Since the licensing campaign began nearly 20 months ago, the patent portfolio has produced 35 settlement and license agreements. Ongoing infringement continues, and the CyberFone portfolio is currently being enforced against additional defendants.
"Along with our partners at IPNav, we are pleased to announce the 35th settlement for this foundational patent portfolio," stated Doug Croxall, Founder and CEO of Marathon. "Securing quality IP assets through our relationship with IPNav and partnering with inventors who wish to monetize their IP continues to be Marathon's primary focus. Our approach to patent monetization has, and is expected to continue generating tangible results for our shareholders."
The Shaked & Co Law Firm represented CyberFone Systems in the transaction.
About Marathon Patent Group:
Based in Alexandria, VA, Marathon Patent Group is a patent licensing company serving a wide range of patent owners from Fortune 500 companies to independent inventors. Marathon provides its clients advice and services that enable them to realize financial and strategic returns on their intellectual property rights. Marathon's operating subsidiaries acquire patent assets, partner with patent holders, and monetize patent portfolios through actively managed patent licensing campaigns. Marathon has maintained a close working relationship for the past 10 years with IPNav, a global leader in full service patent monetization. To learn more about Marathon Patent Group, visit http://www.marathonpg.com/.
IPNav is the world's leading full-service patent monetization firm, helping forward-thinking corporations, universities, organizations, and individuals profit from innovation. IPNav's integrated, end-to-end solution turns idle IP assets into revenue streams. Using its proprietary Patent Monetization Platform, IPNav unlocks the value trapped in its clients' IP portfolios -- with timetables and objectives set by the client. Based in Dallas, IPNav has offices in Dublin, Paris, Shanghai, and Tel Aviv. For more information, visit www.ipnav.com
About Shaked & Co.:
Shaked & Co. Law Offices is a leading law firm specializing in the technology commercialization arena. The firm is involved in every aspect of its clients' technology development, commercialization, licensing and investment activities. The firm represents local and international entrepreneurs, start-ups, life sciences and high-tech companies, multi-nationals, venture capital funds, angel investors, corporate investors, inventors, patent owners and licensors with respect to all of their corporate, commercial and transactional matters. The firm offers its clients integrated legal services, including corporate and commercial law, intellectual property and patent monetization and licensing, and employment law.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), not limited to Risk Factors relating to its patent business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Source: Marathon Patent Group
Released July 10, 2013Share this: