Patent Properties Announces Paul Citarella as Chief Technology Officer

  Patent Properties Announces Paul Citarella as Chief Technology Officer

Business Wire

STAMFORD, Conn. -- January 10, 2014

Patent Properties, Inc. (OTCQB:PPRO), an intellectual property company that
develops and commercializes its unique portfolio of assets and is creating a
disruptive licensing solution for the mass market of patent owners and users,
today announced it has named Paul Citarella as its Chief Technology Officer.

As CTO, Mr. Citarella will oversee the development of Patent Properties’ new
patent licensing system, which will offer a digitally-driven alternative to
the litigation-based model for patent enforcement and licensing, and will
build the business and technology operational teams required to operate the
system post-launch.

“Paul brings over a decade of technology leadership to Patent Properties, as
well as an impressive history of mentorship and fostering innovation,” said
Jonathan Ellenthal, Vice Chairman and Chief Executive Officer of Patent
Properties. “He will play a critical role in the development of our patent
licensing system and we’re thrilled to welcome Paul on board.”

Mr. Citarella joins Patent Properties from Jointli.com, where he was founder
and Chief Executive Officer, growing the company from a concept to a social
marketplace for co-owned luxury items. During this time, Mr. Citarella also
led an active consulting practice helping Fortune 100 companies rethink their
approach to innovating in the digital space, and playing a key role in the
development of another soon-to-be-launched consumer internet business managed
as an incubated startup within a large corporation. Mr. Citarella has also
been an active participant in the growing startup community in New York as a
speaker, panelist, advisor to other startups, and instructor at General
Assembly, one of New York’s premier startup incubators.

Prior to his entrepreneurial endeavors, Mr. Citarella spent more than a decade
in a variety of pure technology roles ranging from software engineer to
technology executive. His most recent role was Director of Enterprise
Architecture and Technology Operations at Synapse Group, Inc. (a Time-Warner
company) where he was responsible for creating and executing Synapse's
strategic technology vision and overseeing a full-service technology
operations organization. While at Synapse, he served on BEA System’s SOA 360
Customer Advisory Board, and received Oracle Magazine's Architect of the Year
award for his innovative use of Oracle’s SOA product line.

“As a technologist, my interest lies in using technology to solve our biggest
and most challenging problems,” said Mr. Citarella. “Patent Properties is on
the cusp of a solution that could be a game changer for patent licensing, a
dysfunctional system plagued with inefficiency and ineffectiveness. I'm
excited to join the Patent Properties team and to be working toward solving
this critical issue.”

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 will also
introduce 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.

Contact:

Investor Contact for Patent Properties, Inc.:
Don Duffy, ICR
(203) 682-8215
or
Media Contact:
Michael Fox, ICR
(203) 682-8218
 
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