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In 1995, Paul Frank was 28-years-old, worked at a news stand, and lived at home with his parents in Huntington Beach, California. For Christmas that year, he received a Singer sewing machine and began making kitschy gifts like wallets for friends by using Naugahyde—a type of vinyl—and vibrantly colored cotton. As a result, the firm of a company was founded that year as a partnership between Paul Frank and two local businessmen: Ryan Heuser and John Oswald, making vinyl accessories in a garage as gifts for their friends.   From there, the wallets and handbags became a local sensation. The firm was formally incorporated in 1998 and has since grown into a global brand with its own stores called Paul Frank Industries.

On November 8, 2005, Frank left the company, but remained a stockholder. The sudden controversy resulted in a lawsuit. Frank was pushed out of Paul Frank Industries in 2005 by his partners and soon was in court the next year suing Heuser and Oswald over the rights to Julius the Monkey and other cartoon images. In 2007, it was decided that all intellectual property in the business belonged to Paul Frank Industries. Oswald left the company and Heuser stayed on. Heuser later left to found athletic apparel brand Athletic Recon. On August 17, 2010, Paul Frank Industries was purchased by Saban Brands, owner of the Power Rangers franchise. The company closed the last Orange County office in Costa Mesa, moving Julius and his friends to Los Angeles on September 27, 2012. Since 2005, Frank has spent his time as a design teacher and fine artist. His new brand, PF Workshop, is a studio that allows him to create innovative and entertaining characters with a personal approach. His new collection of fashion includes t-shirts, handbags, wallets and many other accessories – all designed by Frank himself.

However, on February 6, 2016, Saban Brands announced the appointment of artist and designer Paul Frank as Director of Creative Development for the company. In his new position at Saban Brands, Frank serves as a key player for Paul Frank Industries and brings authenticity back to the brand, while also working on new character development and other content for additional properties in the Saban Brands portfolio.

Paul Frank Limited was formed in 2020 by Futurity Brands, a licensing company based in Switzerland to purchase the intellectual property rights to the Paul Frank brand and its characters. But however, the rights to Julius Jr. are owned by Hasbro under license.