40-Year Old, Never-Before-Released Song; Amongst Earliest Recordings of
Jimi Hendrix as a Solo Artist
CHICAGO, July 25 /PRNewswire/ -- Ocean Tomo, LLC announced today the
inclusion of a rare and unique find in The Ocean Tomo Fall 2006 Live
Intellectual Property Auction to be held on October 26, 2006 at Capitale in
New York City. The copyright and original reel-to-reel recording of the
40-year old, never-before-released Jimi Hendrix song "Station Break" will
be made available in the world's first-ever live auction that includes
patents, trademarks, domain names and copyrights.
"Station Break" was recorded during a session early in Mr. Hendrix's
career as a solo artist, even before he adopted the modified spelling of
his name "Jimi". The song was recorded during the same session as other
well-known Hendrix instrumentals such as "Kato's Special" (aka "Hornet's
Nest"), "Flying On Instruments" (aka "Knock Yourself Out?"), "No Such
Animal", "I'm a Fool For You" and "U.F.O." For unknown reasons, however,
the song was never released.
"Station Break" was co-composed by Jerry Simon, President of R.S.V.P.
Music, who produced the 1966 recording session at Allegro Sound Studios in
New York City. According to Mr. Simon's long-time partner, Celeste Simon:
"In 1994, when we were living in Woodstock, Jerry stumbled across this old
recording in the closet and realized that nothing had ever been done with
this recording. It just slipped through the cracks."
The successful bidder at the auction would receive:
-- Ownership of the physical reel-to-reel;
-- 1/2 ownership of the NY state common law copyright in the sound
recording;
-- The right to digitally re-master the sound recording;
-- The right to issue non-exclusive licenses to the sound recording (with
1/2 of any such proceeds being owed to the Hendrix estate);
-- The right to receive 1/2 of all mechanical license royalties (with the
other 1/2 going to the Hendrix Estate); and
-- The right to receive 1/2 of all public performance royalties from the
performance right societies (with the other 1/2 going to the Hendrix
Estate).
For more information on the Jimi Hendrix recording or The Ocean Tomo
Fall 2006 Live Intellectual Property Auction, please call 312.377.4851 or
visit http://www.oceantomoauctions.com .
About Ocean Tomo, LLC:
Ocean Tomo, LLC ( http://www.oceantomo.com ), the Intellectual Capital
Merchant Banc(R) firm, was established in 2003. The firm specializes in
understanding and leveraging intellectual property assets and provides
advice in IP-related mergers and acquisitions, valuations, expert services,
analytics and IP auctions. Ocean Tomo has offices in Chicago, San
Francisco, Palm Beach, Orange County and Washington, DC. In April of 2006,
Ocean Tomo conducted the first-ever, live patent auction at the
Ritz-Carlton in San Francisco, and in May of 2006, Ocean Tomo was appointed
as Back-Up IP Manager for an approximately $1.8 Billion trademark royalty
rights securitization - the largest IP securitization ever. Subsidiaries of
Ocean Tomo include: Ocean Tomo Capital Fund, LP -- a $200 million private
equity investment fund; and Ocean Tomo Asset Management, LLC -- an SEC
Registered Investment Advisor offering hedge funds utilizing IP-based
investment strategies.
SOURCE Ocean Tomo, LLC
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Related links:
http://www.oceantomo.com
http://www.oceantomoauctions.com
CONTACT:
Wendy Chou of Ocean Tomo, LLC,
+1-718-812-6707, wchou@oceantomo.com
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