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Ocean Tomo Introduces First and Only Platform for Matching Patents to Products


Monday, February 08, 2010

Ocean Tomo Provides Solution for Increased Liability in Patent Marking

Chicago, IL -- Ocean Tomo, LLC, the Chicago-based provider of diversified Intellectual Property-related services, today announced the launch of the PatentMarking™ notification platform (www.PatentMarking.com). The platform, which allows individual users and companies to maintain proper patent marking data, is the first and only system of its kind, acting as a portal for all patent information related to products.

"The PatentMarking™ notification platform makes it easy for organizations to manage and maintain their patent-to-product information," said James E. Malackowski, President & CEO, Ocean Tomo. "Reporting Companies ensure proper record-keeping and proof of patent marking in the case of patent infringement and back damages analysis. This is important, as recent court rulings for false marking represent increased liability for patent-holding companies."

Currently, Section 287(a) of the Patent Act requires that patented articles be marked in order to give constructive notice to the public so as not to infringe. Failure to mark may prohibit the patentee from obtaining back damages prior to giving actual notice to the infringer and may even result in liability for under-management of corporate assets.

Also, a recent Federal Circuit case has significantly raised increased liability associated with false patent marking. In The Forest Group v. Bon Tool Company, the U.S. Court of Appeals for the Federal Circuit states that the $500 maximum fine can now be applied on a per article basis, instead of a per instance basis.

Traditional marking of products or brochures is cumbersome and expensive. Online marking allows for efficient updates and integrates the ability to search across patent numbers, licensees or products. Ocean Tomo’s PatentMarking™ platform supports the corporate management of patent marking data through annual subscriptions, providing companies with a single repository for storing their patent-to-product related data.

In its beta version, the PatentMarking™ notification platform houses over 80,000 companies and 140,000 products, and more than 10,000 patent-to-product links have been user-generated. To become a PatentMarking subscriber, contact Troy Stufflebean, Ocean Tomo Sales Director at 312.316.9963 or tstufflebean@oceantomo.com.

About Patent Marking, LLC

Ocean Tomo’s PatentMarking™ notification platform provides free, public information linking patents to products. PatentMarking data comes in three categories: (O) Observed, provided generally by registered users; (V) Validated, provided by Ocean Tomo or a trusted affiliate organization; and (R) Reported, provided by the product manufacturer or service provider (the "Reporter") under agreement with Ocean Tomo. Reported data is considered to be a representation of the Reporter (subject to terms and conditions) and as such replaces all related Observed and Validated information.

About Ocean Tomo, LLC

Established in 2003, Ocean Tomo, LLC (www.OceanTomo.com) is the leading Intellectual Capital Merchant Banc® firm. The company provides financial products and services related to Intellectual Property financial expert testimony, valuations, investments, risk management and transactions. Headquartered in Chicago, Ocean Tomo has offices in Greenwich, Orange County Palm Beach and San Francisco. Subsidiaries of Ocean Tomo include: Ocean Tomo Risk Management; OTI Data Networks, LLC (www.OTI.com); Patent Marking LLC; (www.PatentMarking.com); Ocean Tomo Asset Management, LLC; and Ocean Tomo Capital, LLC – publisher of the Ocean Tomo 300® Patent Index (NYSE Euronext: OTPAT), the Ocean Tomo 300® Patent Growth Index (NYSE Euronext: OTPATG), and the Ocean Tomo 300® Patent Value Index. Ocean Tomo is the founder and majority owner of the Intellectual Property Exchange International (www.IPXI.com) as well as the exclusive licensee and distributor of PatentRatings® software solutions.



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