Quest Announces Entry Into Patent Asset Management Business
June 26 2007 - 11:00AM
PR Newswire (US)
NEW YORK, June 26 /PRNewswire-FirstCall/ -- Quest Patent Research
Corporation (OTC:QPRC), formerly Quest Products Corporation, today
announced significant changes in its management and business
objectives, along with the launch of its new website:
http://www.qprc.com/ . The company has changed its name to reflect
its move from a manufacturing and sales organization to a patent
asset management and licensing business. Quest also announced that
the Board of Directors has named Jon Scahill as the President and
Chief Operating Officer of the company. Mr. Scahill, who holds an
engineering degree and a masters degree in business administration
from the University of Rochester, comes to Quest from the
Urban-Rigney Group, LLC, where he served as President and Chief
Executive Officer. Mr. Scahill was also elected to Quest's Board of
Directors. Mr. Scahill's skills as an engineer, combined with his
management abilities and related experience, fit well with Quest's
new focus on patent assets and technology management. "We believe
intellectual property is the driving economic force of the 21st
Century," stated Mr. Scahill. "It is our goal to build on Quest's
already strong patent portfolio, which includes our multi-account
credit card patent, and to actively seek licensing partners to
generate long term royalty revenues for the company and, when
necessary, to enforce our patents," stated Mr. Scahill. To assist
in achieving these goals, Quest has entered into a consulting
agreement with Forefront Advisors LLC, a company comprised of
patent attorneys and technical experts specializing in the
acquisition of patent rights and the licensing and enforcement of
patent assets. Quest's offices are now located at East 75th Street,
New York, New York. Safe Harbor Statement under the Private
Securities Litigation Reform Act: Statements in this release that
are not historical facts are forward-looking and involve a number
of risks and uncertainties, including but not limited to the
company's limited operating history, uncertainties or market
acceptance of products, uncertainties of new product development
and other risks. Contact: Jon Scahill President & COO
888-743-7577 Ext. 82 http://www.qprc.com/ DATASOURCE: Quest Patent
Research Corporation CONTACT: Jon Scahill, President & COO of
Quest Patent Research Corporation, +1-888-743-7577 Ext. 82, Web
site: http://www.qprc.com/
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