Ocean Tomo Transactions Accepting Bids Through November 1, 2018 for Unique Modular Tool System Patented Technology No Reserve Auction

CHICAGO, Oct. 16, 2018 /PRNewswire-PRWeb/ -- Ocean Tomo Transactions and Ocean Tomo China announce the final weeks of bidding for the no reserve auction of the first complete automatic hand-to-work locking and quick release modular tool system technologies. The Ocean Tomo private auction which began in May will end at midnight, PST, November 1, 2018, when the technology will sell to the highest bidder. Interested bidders please contact Dean Becker at [email protected] or +1 251 333 8627.

The portfolio of assets available from Ocean Tomo Auctions, in a private, no-reserve auction, includes worldwide patents, complete production engineering drawings and specifications, as well as registered trademarks and trade names related to all automatic hand-to-work pin locking and quick release mechanics' hand and power tools. Using powerful automatic pin locking technology with manual quick release at every tool connection improves productivity and enhances safety for all mechanics' hand tools and power tools, available at no reserve auction.

According to the inventors, "The annual global market for hand and power tools stands at $51 billion USD, a substantial portion of which is mechanics' hand and power tools. No comparable hand-to-work technology exists in the market with a tool system competitive to the technology offered in this auction." The portfolio, comprised of more than 30 issued patents and patent applications related to the hand-to-work system technologies, covers various aspects of key consuming and manufacturing locations, including: the US, Mexico, China, South Korea, Japan, Taiwan, Great Britain, Germany, India, Hong Kong, Russia, South Africa, Indonesia, Brazil and others.

The technologies originated with Peter M. Roberts, inventor of the Quick Release for Ratchet Wrenches, who after a 20-year dispute over the wrench technology settled out of court with Sears for an undisclosed amount. Mr. Roberts' and other inventors' locking and quick release tool system technologies offered include a powerful diagonal pin locking mechanism. The technologies provide the benefit of automatic hand-to-work locking of all mechanics' hand and power tools and combinations (including standard sockets) along with quick release at every tool connection (not just ratchets). The result is a modular tool system that provides valuable productivity and safety advantages to mechanics' hand tools and power tools.

About Ocean Tomo

Ocean Tomo, the Intellectual Capital Merchant Banctm firm provides companies with financial services related to intellectual property and intangible assets.

Collectively, Ocean Tomo professionals have:

• Executed over 1000 engagements involving IP worth more than $10 billion;
• Successfully closed transactions where disruptive technology played a key role, with cumulative value in excess of $750 million;
• Conducted over 300 valuation engagements and 500 financial damages expert testimony engagements.

Ocean Tomo assists clients ? corporations, law firms, governments and institutional investors ? in realizing Intellectual Capital Equity®value broadly defined.

SOURCE Ocean Tomo, LLC