Uh-oh!
http://www.courthousenews.com/2015/09/1 ... m-back.htm
Hasbro Might lose Gi Joe!
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- AV Founder
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Re: Hasbro Might lose Gi Joe!
Fair enough...he made a deal to give them 50 years and that time is soon up.
But...he didn't actually come up with the "GI Joe" trademark, and he didn't market the brand or toys. He had an idea, but Hasbro made it what it became, and I hope their lawyers can see those points.
That said, they make so much on these toys each year I think they should just pony up his 100 mil he (or rather his kids, probably) is petitioning for and rest the case before it becomes "controversial", which is actually quite unlikely.
If they're smart, they'll make a deal to pay him off a bit less (maybe $50m) and give the family a residual on the toys, rising and falling as the popularity does. He came up with a variant on an idea that already existed...he did not come up with the name or brand. He does not hold all the cards on this...
But...he didn't actually come up with the "GI Joe" trademark, and he didn't market the brand or toys. He had an idea, but Hasbro made it what it became, and I hope their lawyers can see those points.
That said, they make so much on these toys each year I think they should just pony up his 100 mil he (or rather his kids, probably) is petitioning for and rest the case before it becomes "controversial", which is actually quite unlikely.
If they're smart, they'll make a deal to pay him off a bit less (maybe $50m) and give the family a residual on the toys, rising and falling as the popularity does. He came up with a variant on an idea that already existed...he did not come up with the name or brand. He does not hold all the cards on this...