Marathon Patent Group's Wholly-Owned Subsidiary CyberFone Systems, LLC Enters Into Settlement and License Agreement With Ricoh Company, LTD.
LOS ANGELES, CA -- (Marketwired) -- 07/15/15 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that its wholly-owned subsidiary, CyberFone Systems, LLC ("CyberFone"), has entered into a settlement and license agreement with Ricoh Company, LTD ("Ricoh"). The consideration to be paid by Ricoh to CyberFone and all other terms of the license agreement are confidential.
CyberFone previously asserted infringement relating to U.S. Patent 6,044,382. The portfolio, which has a large and established licensing base, consists of ten United States patents and 27 foreign patents and one patent pending. The patent rights that cover digital communications and data transaction processing are foundational to certain applications in the wireless, telecommunications, financial and other industries. The portfolio cites and has been cited in patents owned by IBM, Cisco, Hitachi, Siemens, NEC and in at least 437 other patents issued or pending in the United States.
Dr. Rocco Martino, inventor and President of CyberFone Systems, is today responsible for more than 42 patented inventions, many in the data processing and computer transaction fields. On behalf of Dr. Martino, Marathon's CyberFone Systems has executed over 40 settlement and license agreements protecting his patented inventions.
Doug Croxall, Chief Executive Officer of Marathon, stated, "We're pleased with the continued success of our licensing campaign with Dr. Martino. In an age when individual inventors are seeing their constitutionally protected rights eroded by larger companies utilizing their disparate financial resources to twist the patent system and choosing to pursue the unauthorized use of the patents, as opposed to paying a reasonable royalty, we will continue to stand up with and for them."
"Dr. Martino, and those like him are incredibly valuable to inventors, innovators and the American economy," said Mr. Croxall. "It is important to recognize him, especially in light of the continuing anti-patent assertion/New Economic Policy rhetoric coming from the Executive and Legislative branches of our government."
Mishcon de Reya New York LLP acts as litigation counsel for CyberFone.
About Marathon Patent Group
Marathon is a patent acquisition and monetization company. The Company acquires patents from a wide-range of patent holders from individual inventors to Fortune 500 companies. Marathon's strategy of acquiring patents that cover a wide-range of subject matter allows the Company to achieve diversity within its patent asset portfolio. Marathon generates revenue with its diversified portfolio through actively managed concurrent patent rights enforcement campaigns. This approach is expected to result in a long-term, diversified revenue stream. To learn more about Marathon Patent Group, visit www.marathonpg.com.
About Mishcon de Reya New York LLP
Mishcon de Reya New York LLP commenced operations in 2010 and has subsequently grown to over 25 attorneys with capabilities across ten different practice areas: Complex Civil Litigation, IP and Patent Litigation, Family, International Arbitration, Internal Investigations, White Collar Criminal and Regulatory Defense, Fraud and Asset Recovery, Hedge and Mutual Funds, and Employment Litigation. We fiercely guard our clients' interests, offer flexibility in what can be an overly rigid profession and avoid traditional models. The firm acts for plaintiffs and defendants, institutions and individuals, with very low levels of conflict. We are trial lawyers, experienced advocates at both the trial and appellate levels.
Many of these influences stem from Mishcon de Reya London, which in 2012 celebrated the 75th anniversary of its founding, the same year in which it was recognized by its peers as U.K. Law Firm of the Year not once, but twice. Both offices have a strong litigation heritage, with more than 200 litigators representing a diverse portfolio of clients in more than 60 countries.
Safe Harbor Statement
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.
Marathon Patent Group
Source: Marathon Patent Group
Released July 15, 2015