Marathon Patent Group Names Chief Technology Officer / Senior Vice President of Licensing and Senior Vice President of Licensing
Intellectual Property Veterans Umesh Jani and Rick Sanchez Named to Executive Management Team
LOS ANGELES, CA -- (Marketwired) -- 11/10/14 -- Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that Umesh Jani and Rick Sanchez have been named to the Company's Executive Management Team as Chief Technology Officer / SVP of Licensing and Senior Vice President of Licensing, respectively.
"We are pleased that both Umesh and Rick have joined the Marathon team. It goes without saying that their experience at IPNav, including an intimate knowledge of our patent portfolios, makes them each ideally suited to fill these key roles within our organization," said Doug Croxall, Founder and CEO of Marathon Patent Group.
Croxall continued, "I look forward to working with both professionals knowing the integral role and value they will add to Marathon as well as the associated cost savings bringing these roles in house will generate for our company, reducing previously outsourced costs, while also providing for margin expansion."
Umesh Jani manages various aspects of portfolio evaluation and licensing at Marathon. He has extensive experience in patent monetization, strategic analysis, investment strategy, and technology. Prior to joining the Company, Mr. Jani was Vice President and joint-CTO at IP Navigation Group, LLC ("IPNav") from February 2012 to October 2014. His responsibilities at IPNav included intake analysis as well as campaign execution and management. Mr. Jani was a critical part of several successful patent licensing campaigns where he provided strategic as well as technical guidance.
Mr. Jani has extensive experience in the electronics and communications industry. From 2008 to 2011, he served as technical advisor for several IP monetization groups as well as a technical expert on several patent infringement litigations. He worked as a systems engineer with broadband communications as well as display and image processing groups at a prestigious multi-national company where he was elected to the technical ladder in recognition of his technical contributions and leadership skills. Mr. Jani is a registered patent agent, holds a master's degree in electrical engineering with specialization in communications and signal processing, and a bachelor's degree in electronics and telecommunications.
Rick Sanchez oversees all aspects of licensing at Marathon. His expertise stems from his experience in the areas of monetization, litigation, prosecution, and asset development. Just prior to joining the Company, Mr. Sanchez was a Director at IPNav beginning in May 2013 until he joined Marathon, where he was a critical part of managing and monetizing his clients' patent portfolios. As a Director, Mr. Sanchez formulated and executed monetization strategies, negotiated patent licenses, managed litigation and prosecution counsel, and performed diligence on patent portfolios.
Mr. Sanchez also has experience litigating patents. From April 2009 to May 2013, he was a law clerk and then an associate at a Texas law firm, where he was involved in litigation in the fields of semiconductors, medical devices, power electronics, mobile devices, telecommunication systems, and signal processing systems. Notably, he was part of the trial team that secured a multi-million dollar award in the power electronics industry.
Mr. Sanchez also understands intellectual property issues related to public companies. As Director of IP for a small Internet search provider, Mr. Sanchez ported his patent experience to a cost-aware environment with shareholders seeking a positive return on investment. Further, he has several years of experience working as an electrical engineer at large companies such as Raytheon and Science Applications International Corporation, where he developed algorithms and systems to satisfy customer requirements. Mr. Sanchez proudly served his country as a Cryptologic Officer in the U.S. Navy Reserve.
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.
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
Chief Marketing Officer
Source: Marathon Patent Group, Inc.
Released November 10, 2014