U.S. National Academy of Sciences Appoints Patent Properties' Jay Walker to Board on Science, Technology and Economic Policy

  U.S. National Academy of Sciences Appoints Patent Properties' Jay Walker to
  Board on Science, Technology and Economic Policy (STEP)

Business Wire

STAMFORD, Conn. -- January 21, 2014

Patent Properties, Inc. (OTCQB:PPRO), an intellectual property company that
develops and commercializes its unique portfolio of asserts and is creating a
disruptive licensing solution for the mass market of patent owners and users,
today announced that Jay Walker, Executive Chairman and Lead Inventor of
Patent Properties, has joined the Board on Science, Technology and Economic
Policy (STEP) of the United States National Academy of Sciences.

The mission of STEP is to advise federal, state and local governments and to
inform the public about economic and related public policies to promote the
creation, diffusion and application of new scientific and technical knowledge
to enhance the productivity and competitiveness of the U.S. economy and foster
economic prosperity for all Americans.

“I am honored to be asked by the National Academy to help STEP in advancing
American competitiveness and innovation through policies and practices that
leverage scientific and technical ingenuity,” said Mr. Walker. “Innovation
plays an integral role in America’s economic vitality, and, as an entrepreneur
and inventor concerned about our nation’s economic future, I have a stake in
seeing that the U.S. remains at the forefront of science and technology. In
joining this Board of distinguished Americans, I hope to be able to contribute
to STEP’s mission.”

Mr. Walker is best known as the founder of Priceline.com, which brought a new
level of value to the travel industry. He is also the curator and chairman of
TEDMED, a global community of people from every field who are passionate about
the future of health and medicine. He is 11^th on the list of the world’s most
patented living inventors, named on more than 450 issued and pending U.S. and
international patents.

The STEP board and its committees marshal research and the expertise of
scholars, industrial managers, investors and former public officials in a wide
range of policy areas that affect the speed and direction of scientific and
technological change and their contributions to the growth of the U.S. and
global economies.

Mr. Walker joins other distinguished members of the STEP board, including:
Chair, Paul Joskow (Alfred P. Sloan Foundation); Ernst Berndt (MIT); Jeff
Bingaman (Former U.S. Senator); Ellen Dulberger (Ellen Dulberger Enterprises
LLC); Alan Garber (Harvard University); Kathryn Shaw (Stanford University);
Laura Tyson (UC-Berkeley); and Hal Varian (Google Inc.).

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.:
ICR
Don Duffy, (203) 682-8215
or
Media Contact:
ICR
Michael Fox, (203) 682-8218
 
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