HomeOther NewsInventor/Entrepreneur Lonnie Johnson Wins Massive 73 Million Arbitration from Hasbro

Inventor/Entrepreneur Lonnie Johnson Wins Massive 73 Million Arbitration from Hasbro

Published on

lonnie-johnson-inventor-of-super-soaker-02_t580

ATLANTA – Lonnie Johnson is a nuclear engineer, who graduated from Tuskegee University with a Ph.D.  He is also a former NASA scientist and inventor. He founded his company,  Johnson Research, and Development, in 1989 and his company is behind the hugely popular Super Soaker water gun and Nerf toy guns which he licensed toy giant Hasbro to sell in a specific agreement.

That agreement which specifically entailed Johnson held the rights to not only his guns but any technology with “three-dimensional products” at 2% based on appearance and 1% on “two-dimensional representations” was breached because Hasbro created separate products with the same technology and claimed them as their own.  Johnson stated in his original agreement from 1996 that the technology was also his and he was to be paid royalties on the design. Hasbro did not abide by the agreement and Johnson has been awarded a whopping $73 million in back royalties according to the law firm King & Spalding.

Johnson Research filed a claim against the giant toy company in February inciting Hasbro’s underpayment of royalties for the Nerf line toys from 2007 to 2012. An additional separate breach of contract against the behemoth toymaker filed in the district court of Atlanta accused Hasbro of violating the original agreement.

Hasbro was forced to open their books to determine sales of his agreement pro ducted from 2006-12. In the arbitration we got everything we asked for,” said Atlanta attorney Leigh Baier. “The arbitrator ruled totally in Lonnie’s favor.” The attorney also said Johnson “is very pleased” with the outcome.

source AJC

Latest articles

10 Best Loans for Students

10 Best Loans for Students Loans for students are a necessary evil. Student debt is at an all-time high with this year's debt reaching 1.75 trillion. While, at the same time, the nation-wide average for unemployment has skyrocketed with 6.3 million experiencing joblessness. Thus, finding promising loans with affordable interest rates is more important than ever. Sofi Fixed APR: 2.49%-7.59% Variable APR: 1.74-7.24% Maximum Loan Amount: 100% cost of attendance With a shockingly low fixed rate of 2.49% -7.59%, Sofi is the number one lender at BlogWallet. [...]

Rappers Myron Rainey and Christian Sanders Shot Dead in Ohio (Video)

https://www.theindustry.biz/wp-content/uploads/2024/11/Screenshot_372.pngOver the weekend, a tragic shooting occurred in Shaker Heights, a wealthier neighborhood in...

Who is Kevin O’Leary?

Discover Kevin O'Leary, the renowned Shark Tank investor and business mogul. Learn about his entrepreneurial journey, success strategies, and impact on the business world.

Ex Radio Jock, Stephon Ferguson, Makes Living Imitating Dr. Martin Luther King around the World

KUDOS to a former radio jock for using his radio leverage to create an amazing opportunity for himself. Stephon Ferguson, 48, discovered his amazing ability to emulate one of the greatest leaders of our time Dr. Martin Luther King by chance in the late 90s. Ferguson was mixing a vinyl recording of Martin Luther King Jr.'s famous "I Have a Dream" speech on Motown records with a beat and he was overheard by a friend who came into the room asking if that was him.” Ferguson told ABC News. [...]

How Skillshare Democratized Learning and Created a Global Community of Creators

Discover how Skillshare revolutionized online learning, empowering millions to explore their creativity and learn new skills in a vibrant global community of creators.

The Birth of Native Instruments: How They Changed the Landscape of Digital Music Production

Native Instruments revolutionized digital music production with innovative software and hardware. Discover how this tech pioneer transformed the industry landscape.

Chicago Budget Passes Amid Migrant Spending Chaos (Vidoe)

In a tumultuous session held at Chicago City Hall, the Chicago City Council narrowly...

Entrepreneur Mistakes: Unimportant Interruptions

Do not allow anyone to throw your day off. Nothing like  unimportant interruptions For some odd reason, many people think that black entrepreneurs do nothing but sit around and twiddle our thumbs and wait for money to come in. I guess this is why we get unimportant interruptions during the day? They are really under the impression that because we do what we love we're not working. And part of that is correct, we're not working. But we're always busy and we never sleep. [...]

10 Tips on How to Improve and Make More Money with Your Business

One of the greatest complaints and challenges in business is almost always money. We...

How to Manage Your Business Calendar Automatically with Tech

Discover smart ways to streamline Business Calendar Management using automation tools and tech solutions. Save time and boost productivity with these essential tips.

More like this

From Blogger to Twitter: How Evan Williams Helped Shape the Social Media Landscape

Discover how Evan Williams, co-founder of Twitter and Blogger, revolutionized social media and became a key figure in shaping the digital landscape we know today.

Woman Granted Bond After Stabbing Pizza Employee Over Order (Video)

In a troubling case that has shocked the local community, Katherine Harper, one of...

Woman’s Tragic Death in Roswell Linked to Abusive Ex-Boyfriend (Video)

Man Wanted for Christmas Eve Murder in Roswell A murder investigation is underway in Roswell,...

The Family Recipe: How Five Guys Grew from a Small Family Business to a Burger Empire

Discover how Five Guys transformed from a family-owned burger joint to a global fast-food phenomenon, serving up fresh, customizable burgers and hand-cut fries.

Just Getting Paid for our Work…

Let’s face it, we’re all thrilled to get new business and we try our best to satisfy our customers. After we finish giving them what they want, now we have to “beg” for what we deserve? (lol). Today, I am looking at 5 invoices that are 6 weeks or more past due.  Don’t get me wrong, I love my clients but it is hard as hell to collect. [...]

Five Must-Have WordPress Plugins for Efficient Website Management

Five Must-Have WordPress Plugins for Efficient Website Management Managing a WordPress site involves more than...

T-Pain’s School of Business Returns To Fuse for Season 2 (preview)

Series: T-Pain’s School of Business Premiere Date: Tuesday, August 6 at 11 p.m. ET/PT on Fuse TUNE-IN: Fuse and T-Pain are bringing viewers back to school this summer with a brand-new class of innovators, disruptors and startup heroes. T-Pain’s School of Business features beloved artist, comedic personality and business mogul T-Pain as he explores innovative, unique and off-the-wall startups created by millennial black entrepreneurs. [...]

Payroll Services to Consider for Your Business

Payroll Services to save time and money with your business Businesses everywhere, big and small, are turning to automated, online services to streamline their payroll systems. As we all know, a worker is worth his wages. And, a worker is also worth a reliable system that delivers their paycheck on time—every time. Streamlining your company’s payroll system can ensure that your employees are well taken care of. [...]

Social Music Remix App Hook Partners with Glassnote Records

Hook, the revolutionary new AI-powered social music app that allows music fans to create,...