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Intellectual Property Acquisition Opportunity

Intelligent Optical Industries Limited (in Liquidation)

Lisa Alford and Chris Parkman as the Joint Liquidators (the “Joint Liquidators”) of Intelligent Optical Industries Limited (in Liquidation) (“Intelligent Optical Industries” or the “Company”) have appointed Hilco Streambank to actively seek interested parties with regard to the sale of the Company’s intellectual property assets (the “Assets”). The Company specialised in the design of bespoke eyewear technology. . 

AVAILABLE IMMEDIATELY

Background

Intelligent Optical Industries was incorporated in 2012 for the design of bespoke consumer electronics. Following a five year development programme, the Company’s intention was to create electronic eyewear appropriate for the needs of the 21st century which it then intended to introduce into the global market. The Company’s initial business plan was to create a market for the Company’s own unique form of eyewear with removable electronics, and to do this by selling directly into retail chain stores and global distribution networks.

The Company’s focus has been on the development of its technology, the Gemini system, which management marketed as the first in the market to be user friendly and patent protected. Management advise that the Company has invested over £1m ($1.25m) in the development of its technology, which is patent protected.

Management advise that the Company’s technology has attracted interest from major US distributors such as Best Buy Co., Inc. and from the UK’s largest and oldest independent designer and manufacturer of lenses and frames, the Norville Group Limited, whose partnership led to the creation of the Gemini brand.

Patents

The Company benefits from ownership of 69 patents related to audio visual and mobile technology which aim to fill the gaps that exist in the combined use of audio and visual apparatus and in the efficient operation of telecommunication processes. The patents cover three parts of a technology to deliver true wireless stereo transmission to pods for eyewear which can be attached and reattached. This kind of technology offers an opportunity for comfort and ease to users of glasses and sunglasses.

Patent no. GB 0804897 D0 consists of a messaging system intended for use with mobile telephones and related devices such as those with Bluetooth technology in order to remedy dissatisfying voicemail arrangements certain service providers may offer their clients.

Patent no. GB 0812991 D0 relates to audio equipment designed to be worn on the head. The spectacles carry audio modules which can act as radio receivers, MP3 or data file players, mobile telecommunications devices, telephone messaging services or combinations thereof. The invention is wireless as well as lacking circuits and electrical components in the temples so that the wearer can benefit from greater comfort and safety.

Patent no. GB 2426140 A also relates to personal audio equipment and was created as a solution to the discomfort and frustration of wearers of glasses and sunglasses in situations where their eyewear interferes with their earpieces or mobile phone equipment. The innovative technology attaches the audio equipment to the spectacles to avoid any such problem.

Patent no. GB 0903719 D0 consists of a messaging system for use with mobile telephone equipment which improves the system pioneered through the aforementioned messaging system of GB 0804897 D0, by allowing the owner control over the operation of the messaging system.

Patent no. AU 2010/326368 B2 relates to personal audio equipment where the user wears a headset or earphones to hear the audio output. Uses of the equipment are versatile and are not limited to listening to music or other recorded audio, but can also be used in other applications, like a hands-free mode in telephone devices. As with the Company’s other patent applications the aim is to reduce the inconvenience to the consumer, in this case via the wireless element of the connection between the speaker housings.

Screenshot 2019-07-08 at 15.25.35

Available Assets

Trade Marks

The Company’s UK trade mark application for the ‘BINZ’ word mark (trade mark no. UK00002572368)

The Company’s EU trade mark application for the ‘’BINZ’ word mark (trade mark no. 9742371).

Patents

The Company possesses six UK patents. The Company also possesses a number of patents in the USA, EU, and other European, Asian and and Oceanian countries.

Further information on the patents can be found here.

Designs

The Company has registered six EU designs, three of which relate to eyewear and three of which relate to the BINZ logo.

Design Names

001261366-0001

000555933-0001

000599980-0001

001328512-0001

001328512-0002

001328512-0003

Sale Process

Please contact Hilco Streambank to obtain an NDA and for more information regarding the sale process. A Bid Submission Form for submitting bids for the intellectual property assets is available on request.

Key Terms & Conditions

The Joint Liquidators act as Agents of the Company and without personal liability.

The bidder acknowledges that Hilco acts as an agent for the Joint Liquidators who offer for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied.

The information provided has not been verified by Hilco or the Joint Liquidators and bidders are deemed to have carried out their own due diligence.

A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. VAT, if applicable, at 20% will be added to the price. Legal completion to occur within 5 business days of bid acceptance. Hilco Streambank's full Terms and Conditions apply. 

Contact Us

For further information about the sales process please contact the following Hilco Streambank representatives:

Interested Parties

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