LOS ANGELES, CA ? (Marketwire) ? 08/09/12 ??MMRGlobal, Inc. (OTCBB: MMRF) (MMR) today announced it will revitalize efforts to monetize the Company?s significant patent portfolio related to Personal Health Records (PHRs) and biotech and has retained the law firm of Liner Grode Stein Yankelevitz Sunshine Regenstreif & Taylor LLP (Liner) to lead the effort. With Liner?s assistance, MMR will pursue markets that rely on the Company?s patented health IT technologies, including hospitals, healthcare providers and physician group practices using document management, imaging and faxing of paper-based medical records into digital online Personal Health Records. The Liner firm will protect and monetize MMRGlobal?s intellectual property, including the past, present and future use by third parties of its health IT patents. Liner will also work with existing MMR consultants and bankers to identify markets and potential infringers, including healthcare IT service vendors and healthcare providers.
Liner is one of Los Angeles? largest regional law firms, with a distinguished roster of attorneys. The MMR initiative will be led by Ted Ward, a Liner partner whose career includes advising Fortune 500 companies regarding complex business and intellectual property litigation matters, particularly surrounding patent litigation in manufacturing processes, mechanical engineering, computer hardware and software, printer technology, cable modem technology, biotechnology and pharmaceutical issues.
According to Ward, ?MMR owns a significant portfolio of issued patents and pending claims. We intend to protect MMR?s rights and pursue potential infringers. The evolving world of health IT includes a global shift to digitizing medical records and has created new opportunities for MMR. MMR?s intellectual property portfolio is significant and it is the Company?s intention to enforce its rights and make its services available to those who must comply with the legal requirements regarding the maintenance of health records.?
Bob Lorsch, Chairman and CEO of MMRGlobal, said, ?We have worked long and hard on establishing our health IT and biotech patents at significant cost and it is time to monetize them for usage. Where infringements were inadvertent, we will offer reasonable non-exclusive recurring license packages based on the size of the infringement.?
Ward continued, ?In today?s business climate, more and more companies are seeing the value and merits of ?monetizing? their intellectual property assets. We are in the midst of a change where many companies have turned their IP portfolios into significant revenues. At the same time, we are witnessing a successful push by many of the Web?s biggest pioneers as well as emerging growth companies like MMR that are re-asserting patent portfolios against new rivals emerging in the social media and networking space out of a fiduciary responsibility to their shareholders to maximize every financial means possible.?
The MMR patent portfolio was created in conjunction with the intellectual property law boutique of McKee, Voorhees & Sease, P.L.C. (MVS). MVS has partnered with MMR from the beginning and continues to assist in building U.S. and international patent portfolios in the health information technology and biotechnology areas. MMRGlobal?s biotechnology portfolio includes three U.S. patents, four U.S. pending patent applications, five patents in foreign countries and 15 pending patent applications in foreign countries. MMRGlobal?s health IT portfolio includes three U.S. patents (with a total of 81 claims), 18 pending U.S. patent applications (with hundreds of pending claims), five patents in foreign countries, and nine pending patent applications in foreign countries. MVS will continue to file and manage the prosecution of MMR patents globally in support of the Liner monetization efforts.
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