Marathon Patent Group (MARA) the patent licensing company run by CEO Doug Croxall, said its wholly-owned subsidiary IP Liquidity Ventures LLC agreed to purchase 43 patents related to tire pressure monitoring systems from an undisclosed buyer for an undisclosed amount.
Los Angeles-based Marathon said among the patents acquired is the German part of European patent number EP1309460 (DE 60142907.9) which is currently being asserted in a pending lawsuit in Germany against Schrader-Bridgeport International, Inc.; Schrader International, Inc.; Schrader Electronics Ltd.; Schrader Electronics Inc.
According to the application for EP1309460, the applicant for the patent was Bridgestone Americas Tire Operations LLC.
Marathon said a final judgment of infringement of EP '460 Patent and an injunction was entered on June 12, 2014 by the Munich District Court against Schrader.
Marathon said as part of the acquisition, it will have the right to enforce the injunction against Schrader in Germany, which would prevent Schrader from making, selling using, or offering for sale any tire pressure monitoring systems that have been found to infringe the EP '460 patent.
"The Munich District Court's Judgment of infringement of EP '460 Patent includes injunctive relief and damages, as well as the additional grant of claims for destruction of the infringing products and information on the distribution chain," Croxall said in a statement. "It is our intention to take all necessary measures to start enforcement of the injunction against Schrader in Germany”.
Croxall also said the acquisition demonstrates that diversification within the patent asset class can also be measured by the stage of enforcement at which Marathon acquires the patent asset.
“The ability to enforce an injunction in Germany against Schrader, reduces risk, eliminates up-front expenses, and reduces the time to possible revenue,” he said.
He said Marathon expects the acquired patents have "the potential to contribute meaningfully to Marathon's revenues, earnings and continuing goal of creating shareholder value.”
Croxall said on a conference call with investors yesterday that Marathon also will be able to bring similar infringement claims against other defendants in Germany.
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