It consists of a paperboard flap (where the cover art is printed) which is held closed by a narrow plastic strip which has a "snap" closure.
The closure forms the right edge of the package and wraps as a single rigid piece around to the front in an L shape (as viewed from either end).
Bumps on the inside of the top and bottom edges of the tray fit into notches on the end of the closure in order to create the snap.
It was patented in 1992 by Ivy Hill Packaging, a Time Warner subsidiary that made cardboard LP sleeves and CD longboxes.
Time Warner gradually switched to DVD keep-cases in 2004 when they sold Ivy Hill to Cinram, who later dropped the format in 2005 due to a lack of interest.