Intellectual Ventures founder Nathan Myhrvold. Photo: Pier Marco Tacca/Getty Images

Intellectual Ventures has hired former TiVo executive Arvin Patel to run its giant patent fund.

Why it matters: The Seattle-area company, run by former Microsoft executive Nathan Myhrvold, has become one of the world's largest patent holders through a variety of mean including licensing, strategic partnerships and patent sales.

Details: Patel will serve as chief operating officer of Intellectual Ventures' flagship Invention Investment Fund.

"The company’s pioneering efforts in redefining the IP marketplace have always inspired me," Patel told Axios.

Background: Patel knows a thing or two about patents, having previously served as chief intellectual property officer at TiVo, which ended up making a significant amount of its money by licensing its patents after others came to dominate the digital video recorder market.

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