VPR Brands Update on Monetization and Enforcement of U.S. Utility Patent for Electronic Cigarette
FORT LAUDERDALE, FL, Nov. 25, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- VPR Brands, LP ( OTCQB: VPRB ): VPR Brands is a market leader and pioneer in electronic cigarettes and vaporizers for nicotine, cannabis and cannabidiol (CBD). Its patented technology is one of the original filed electronic cigarette patents dating back to 2009 and includes two broad, independent claims covering electronic cigarette products containing an electric airflow sensor, including a sensor comprised of a diaphragm microphone. The sensor turns the battery on and off, and covers auto-draw, buttonless e-cigarettes, cigalikes and vaporizers using an airflow sensor. Our technology is covered under electronic cigarette utility patent US 8205622.
The company has recently hired a boutique Intellectual property law firm; SRIPLAW who will advise the company on monetization strategy and manage and execute the process. VPR Brands has started to identify well over 50 of the leading infringing companies, based on sales volume and notifying the companies of their infringement. The company’s monetization strategy includes licensing and or manufacturing contracts with infringing brand owners. The company and its legal team headed by Joel B Rothman of SRIPLAW are also prepared to litigate if necessary.
“Having personally been in the vape industry for the past 10 years and witnessing the evolution of ecig and vapor technology, it is befitting that our company owns this US utility patent for what has grown to be a multibillion-dollar market. The inner construction of an e-cigarette is quite simple and fairly standard and it is very obvious as to what our auto draw technology patent covers, and potential infringement is rather clear when you see it,” said Kevin Frija, CEO of VPR Brands. “Our Patent could be a huge windfall for the company either by enticing infringing companies to order product through VPR Brands or as an alternative pay royalty on infringing product. Infringement can be avoided by simply adding a button to the battery but there is a reason the preferred option by consumers and most manufactures to date to simulate real smoking is our buttonless auto draw technology which best mimics real smoking.”
The company may also seek a buyer for this patent in the future. As an example of past patent sales for Electronic cigarettes, another company, Ruyan, gained a U.S. patent for its product with the application stating that the product is “an electronic atomization cigarette that functions as substitutes (sic) for quitting smoking and cigarette substitutes.” (U.S. Patent No. 8,490,628 B2, 2013). In August 2013, Imperial Tobacco Group purchased the intellectual property behind the Ruyan e-cigarette for $75 million. The market was barely what it is today and has grown tremendously since 2013, nearly tripled in size.
About VPR Brands, LP: VPR Brands is a technology company, whose assets include issued U.S. and Chinese patents for atomization related products including technology for medical marijuana vaporizers and electronic cigarette products and components. The company is also engaged in product development for the vapor or vaping market, including e-liquids, vaporizers and electronic cigarettes (also known as e-cigarettes) which are devices which deliver nicotine and or cannabis through atomization or vaping, and without smoke and other chemical constituents typically found in traditional products. For more information about VPR Brands, please visit the company on the web at www.VPRBrands.com.Forward-looking statements: This news release contains statements that involve expectations, plans or intentions, and other factors discussed from time to time in the company’s Securities and Exchange Commission filings. These statements are forward-looking and are subject to risks and uncertainties, so actual results may vary materially. The company cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. The company disclaims any obligation subsequently to revise any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.Corporate Communications: NetworkWire (NW)New York, New York www.NetworkNewsWire.com 212.418.1217 Office