Press Release

Patent Properties, Inc. Signs Intellectual Ventures to List Patents with The United States Patent U

April 2, 2015 Stamford, CT

Patent Properties, Inc. (OTCQB: PPRO) announced today that Intellectual Ventures, a Seattle-based company devoted to the business of invention, has agreed to list several thousands of its patents with The United States Patent Utility (“Patent Utility”), a Big Data software-driven innovation service available to companies of all sizes operated by Patent Properties.

Stamford, CT – April 2, 2015 – Patent Properties, Inc. (OTCQB: PPRO) announced today that Intellectual Ventures, a Seattle-based company devoted to the business of invention, has agreed to list several thousands of its patents with The United States Patent Utility (“Patent Utility”), a Big Data software-driven innovation service available to companies of all sizes operated by Patent Properties.

“We are very pleased that Intellectual Ventures, one of the world’s largest patent owners, has joined with other companies and individual patent owners to list patents with the Patent Utility,” said Jay Walker, Executive Chairman of Patent Properties and the chief designer of The United States Patent Utility. “By making these assets available to our subscribers, we can accelerate the exchange of ideas, knowledge and technology that leads to better problem solving, product and service improvements and, ultimately, economic growth.”

The Patent Utility software identifies the ideas, people and organizations that are otherwise hidden in the largest library of technical knowledge and specialized experts in the world – America’s patent database – and presents the most relevant matches to subscribers through a series of information products.

Subscribers of the Patent Utility can then use the findings to address internal manufacturing, engineering and product development challenges faster and cheaper, receive early warnings of technology investments being made by competitors before they show up in future products and become better prepared to manage patent-related legal risks in our tech-dominated economy. 

“With the Patent Utility, Jay Walker and his team are building a novel innovation platform that gives companies of all sizes efficient access to a large library of inventions previously unavailable,” said Edward Jung, founder and chief technology officer at Intellectual Ventures. “At Intellectual Ventures we are pleased to support the Patent Utility and its goal of simple, inexpensive access to innovations and innovators as it complements our vision of contributing to a more fluid invention marketplace.”

In addition to serving subscribers, the Patent Utility also works with patent owners interested in incremental licensing revenue. Organizations like Intellectual Ventures can list their patents in the Patent Utility’s catalog for the purpose of seeking licenses from non-competitive companies. Whenever the Patent Utility’s software identifies sufficient statistical relevance between a subscriber’s business and a patent listed by its owner in the service’s licensing catalog, then a “No-Fault” license is created. A No-Fault license is based on statistical analysis, instead of expensive human legal analysis. This new type of license is perfectly appropriate for the huge number of patents that cannot justify the high transaction costs and risks of today’s “court-based” licensing environment.

“In the few weeks since the Patent Utility was launched, we have been very pleased by the initial level of response and interest from the marketplace,” added Jon Ellenthal, CEO of Patent Properties. “Having a patent owner of Intellectual Ventures’ size and stature list a subset of its patent assets in our licensing catalog offers important marketplace validation of our ability to create incremental licensing value. This type of patent license generates new revenue for patent owners and helps our subscribers build an inexpensive portfolio of licenses to statistically relevant patents.” 

Forward-Looking Statements

This press release may contain certain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results, performance, prospects and opportunities. When used, the words “anticipate,” “believe,” “estimate,” “expect” and “intend” and words or phrases of similar import, as they relate to Patent Properties, are intended to identify forward-looking statements. Such forward-looking statements include, in particular, projections about the Company’s future results, statements about its plans, strategies, business prospects, changes and trends in its business and the markets in which it operates.

Additionally, statements concerning future matters such as revenue levels, expense levels, and other statements regarding matters that are not historical are forward-looking statements. Management cautions that these forward-looking statements relate to future events or the Company’s future financial performance and are subject to business, economic, and other risks and uncertainties, both known and unknown, that may cause actual results, levels of activity, performance, or achievements of its business or its industry to be materially different from those expressed or implied by any forward-looking statements. Factors that could cause or contribute to such differences in results and outcomes include, but are not limited to, those discussed under the section entitled “Risk Factors” in the Company’s most recently filed Annual Report on Form 10K and in any Risk Factors or cautionary statements contained in its Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Readers should carefully review this information as well as other risks and uncertainties described in other filings the Company makes with the Securities and Exchange Commission, or the SEC. The Company does not undertake any obligation to publicly update these forward-looking statements. As a result, investors should not place undue reliance on these forward-looking statements.

About Patent Properties, Inc.

Patent Properties (OTCQB: PPRO) developed and recently introduced The United States Patent Utility™, a subscription-based service that uses proprietary Big Data software to connect the global stockpile of technology improvements and technical experts, represented by the U.S. patent database, with businesses that can put them into commercial uses that help them compete and grow. The Company also owns and seeks to commercialize, license and enforce the unique portfolio of intellectual property developed by inventor and entrepreneur Jay Walker, who serves as the Company’s Executive Chairman. Mr. Walker is best known as the founder of Priceline.com and has twice been named by TIME magazine as “one of the top 50 business leaders of the digital age.” Mr. Walker currently ranks as the world’s 11th most patented living individual, based on U.S. patent issuances according to Wikipedia.  Additional information regarding the company can be found at www.patentproperties.com.  Additional information regarding The U.S. Patent Utility can be found at www.uspatentutility.com.

Follow The U.S. Patent Utility on Twitter at @USPatentUtility and on LinkedIn here.

About Intellectual Ventures

Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. IV’s mission is to energize and streamline an invention economy that will drive innovation around the world. For press inquiries, please contact press@intven.com. For all other inquiries, please contact info@intven.com or follow IV on Twitter at @IVinvents.

Investor Contact for Patent Properties, Inc.:
Don Duffy/Garrett Edson, ICR
(203) 682-8200 

Media Contact for Patent Properties, Inc.:
Michael Fox, ICR
(203) 682-8218

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