On the front page of JimmyJane.com, there is the following:

Welcome to Jimmyjane - where naughty is nice, sexy is smart, and the pleasure's in the details. With our blend of sophisticated design, superior craftsmanship and a twist of whimsy, we make what we love. Curious?

Yes, the company sells adult toys – such as vibrators and even blindfolds. However, this is far from schlocky stuff; rather, the company focuses on great design and, of course, customer satisfaction.

Actually, Jimmyjane is trying to protect its intellectual property. For example, the company recently filed a patent – which has the following title: "Personal vibrator with replaceable motor."

Here's the abstract:

A vibrating massager includes a housing, a power source supported by the housing and a replaceable motor. The housing and motor are configured so that the motor may be readily replaced by a human operator without the need to replace the housing, power source, or other components. The motor may be sized and configured to substitute for a conventional battery in a multi-battery device. When positioned in place of a battery in a supporting device, the motor operates to impart a vibrating motion to the supporting device.

Yes, I'm sure the attorney had fun filing that one.

The company also has some heavy-hitters on the board, such as Amy Schoening. She was the former chief marketing officer of the Gap (NYSE: GPS).

So, Jimmyjane looks like a can't miss business concept, right?

Not necessarily. According to a recent piece in Private Equity Week [a paid service], the company has been struggling to raise money.

But as of last year, it looks like the company got some traction and was able to raise about $1.1 million from a variety of angels. Perhaps the most notable: Tim Draper, who manages Draper Fisher Jurvetson. Some of his mega investments include Baidu (Nasdaq: BIDU) and Skype, which is owned by eBay (Nasdaq: EBAY).

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.