STAMFORD, Conn.--(BUSINESS WIRE)--Patent Properties, Inc. (OTCQB:PPRO), an intellectual property company that develops and commercializes its unique portfolio of assets and has introduced a disruptive licensing solution for the mass market of patent owners and users, announced today the release of a report it commissioned by ipCapital Group (“ipCG”) identifying the sizable opportunity for “The United States Patent Utility^TM.” The Utility is Patent Properties’ Big Data-driven software system, currently in beta version, to unlock America’s treasure trove of inventions.

In its report, ipCG notes the current problem plaguing American innovation – that most companies cannot access new innovations or do not fully understand the risks and uncertainties associated with using patented technologies. According to ipCG, there are approximately 230,000 companies in America generating annual revenue between $5 million and $1 billion per year and doing business in the top 10 industries affected by patent litigation. Companies in this revenue range represent the Utility’s initial addressable target market, since they are most likely to need an outside solution for understanding the risks and opportunities in the U.S. patent system.

At an annual subscription fee of $14,400 per year, ipCG concludes the 230,000 businesses represent an initial $3.3 billion per year opportunity for the Utility and Patent Properties.

The report notes that the Utility offers a cohesive service platform to make the economic benefits of America’s 2.3 million active patents available to a much broader universe of inventors and operating businesses. The need for a service like the Utility has become more pressing given the role of patented technology in the U.S. economy and the rising costs of existing market efficiencies.

“The ipCG report clearly demonstrates the immediate market opportunity for the Utility to help patent owners gain access to new potential licensees and licensing revenue, while helping more businesses to tap into new commercial opportunities hidden in the U.S. patent database. Licensors both big and small can now enter into sensible commercial deals that benefit both sides, without the expense or risk of involving the court system,” said Jonathan Ellenthal, Vice Chairman and Chief Executive Officer of Patent Properties. “We’ve said that the Patent Utility is designed to be a broad-based market solution for businesses that are currently frozen out of the current patent system’s benefits due to the high costs and complexity of navigating today’s patent environment. At $3.3 billion per year, the ipCG report puts a real number on the Patent Utility’s marketplace.”

“This report, along with our recently commissioned study, ‘Unlocking Patents: Costs of Failure, Benefits of Success,’ by Brookings economist Robert Litan, which demonstrated that up to $200 billion in output could be added to the U.S. economy by marginal increases in licensing, is a wake-up call for America,” added Mr. Ellenthal. “In combination, both show that the Patent Utility offers the potential, for the first time in the digital age, to unlock huge amounts of American innovation currently on the commercial sidelines.”

The report is public and can be downloaded on Patent Properties’ website at www.patentproperties.com and clicking on the “Investor Relations” section.

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, Inc. (OTCQB: PPRO) will continue to develop and commercialize its unique portfolio of intellectual property assets, which were created by Walker Digital, LLC, the research and development lab led by internationally recognized inventor and entrepreneur Jay Walker, and has also introduced a disruptive licensing solution for the mass market of patent owners and users. 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.” All of the patents owned by the company were developed internally by Walker Digital, LLC, with Jay Walker as a named inventor on all issued patents and the lead inventor on the vast majority. Additional information regarding the company can be found at www.patentproperties.com.

About ipCapital Group

ipCapital Group (ipCG) is an intellectual property (IP) consulting firm that has been serving clients that range from early stage to Fortune 500 since 1998. ipCG has delivered over 700 successful IP engagements to companies in a wide range of industries including over 10% of the Fortune 500. Our professional services maximize financial results for clients that seek to develop and execute IP strategies, strengthen and monetize IP portfolios, and establish and implement Intellectual Asset Management (IAM) practices. We have an interdisciplinary team trained in business, law, marketing, and product development that provides a systematic and comprehensive view of the full lifecycle of IP, from creation to monetization to retirement.