Firm Sets Sealed-Bid Auction of Frameri’s Patent and Trademark Portfolio

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SAN DIEGO—Heritage Global Patents & Trademarks has been appointed to auction the intellectual property of Frameri Inc., according to an announcement by the liquidation company on Tuesday. The intellectual property portfolio to be sold consists of granted patents, patent applications and trademarks and will be sold as one auction lot to the highest bidder. The deadline for submitting bids is Feb. 21, according to the announcement. The auction details are available here.  Frameri, which was launched in Cincinnati in 2014, was featured on the television show “Shark Tank” in 2015 for its innovative interchangeable frames and lens system.

It announced the plans to shut down in January 2018, as VMAIL reported. That decision followed by just a few months the company’s confirmation that it was looking to expand beyond its initial showroom facility in Cincinnati to other major cities.

A video demonstration of the interchangeability of the Frameri lens and frame technology is available here.

“This is a perfect example of an excellent technology living on after a corporate shutdown by being purchased by an entity capable of realizing the full potential of this technology,” Heritage Global chief executive officer Ross Dove said in the announcement. “Given the enormous size of the eyeglass market this could be an industry game-changer for the company with the vision to see the magnitude of this opportunity.”

Doug Berman, a Heritage Global director, said he believes the upcoming auction is an “exceptional opportunity for entrepreneurs to either add to their existing eyewear patents or for a newcomer to jump-start their entry into that space.”