SOURCE: Marathon Patent Group

July 13, 2015 09:00 ET

Marathon Patent Group's Wholly-Owned Subsidiary Signal IP, Inc. Enters Into Settlement and License Agreement With Mitsubishi Motors North America, Inc.

LOS ANGELES, CA--(Marketwired - Jul 13, 2015) - Marathon Patent Group, Inc. (NASDAQ: MARA) ("Marathon"), a patent licensing company, announced today that its wholly-owned subsidiary, Signal IP, Inc. ("Signal"), has entered into a settlement and license agreement with Mitsubishi Motors North America, Inc. ("Mitsubishi"). The consideration to be paid by Mitsubishi to Signal IP and all other terms of the license agreement are confidential.

Signal's U.S. Patents 5,714,927, "Method of Improving Zone of Coverage Response of Automotive Radar," 5,732,375, "Method of Inhibiting or Allowing Airbag Deployment," 6,434,486, "Technique for Limiting the Range of an Object Sensing System in a Vehicle," 6,012,007, "Occupant detection method and apparatus for air bag system," 5,463,374, "Method and apparatus for tire pressure monitoring and for shared keyless entry control," 5,954,775, "Dual Rate Communication Protocol," and 6,775,601, "Method and Control System for Controlling Propulsion in a Hybrid Vehicle," are currently being asserted against various automotive companies including American Honda Motor Co., Inc., Ford Motor Company, Audi of America Inc., Porsche Cars of America Inc., Mazda Motor of America, Inc., Mercedes-Benz USA, LLC, Fiat U.S.A. Inc., BMW of North America LLC, Subaru of America, Inc., Kia Motors America, Inc., Nissan North America, Inc., Toyota Motor Sales, USA, Inc., Toyota North America, Inc., and Hyundai Motor America in the United States District Court for the Central District of California and/or the United States District Court for the Eastern District of Michigan.

Shaked & Co. Law Firm represented Signal in the transaction and Liner LLP represents Signal in these enforcement cases.

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 Liner LLP

Liner LLP is a law firm with offices in Westwood and Downtown Los Angeles that serves individual, entrepreneurial and Fortune 100 clients domestically and internationally. The Firm is known for its legal services in the areas of business and entertainment litigation, intellectual property litigation, class action litigation, real estate transactions and litigation, business and financial crimes defense, business solutions and financial restructuring, family law, mergers and acquisitions, and media finance. Website: www.linerlaw.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.

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