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

Black 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 seperate 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 Reasearch 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 seperate 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

How to Use AI to Write Better Product Descriptions

Learn how to leverage AI-Driven Product Descriptions to boost sales, save time, and create compelling copy that converts browsers into buyers while maintaining brand voice

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.

How to Automate Your Social Media Posting Schedule

Learn how to streamline your content strategy with Social Media Posting Automation. Discover top tools and proven techniques to save time while maintaining consistent engagement

How to Use AI to Track and Forecast Consumer Behavior

Discover how AI-powered Consumer Behavior Tracking can revolutionize your business strategy. Learn to predict customer trends and make data-driven decisions for better ROI

How to Analyze and Optimize Ad Performance in Real-Time

Learn proven strategies for ad performance optimization to boost ROI and engagement. Discover real-time monitoring techniques and actionable insights for your campaigns.

How to Automate Contract and Proposal Generation with AI

Discover how contract and proposal automation streamlines document creation, reduces errors, and accelerates business workflows. Learn to leverage AI for efficient operations

How to Enhance Product Recommendations on Your E-Commerce Platform

Discover proven strategies to optimize E-Commerce Product Recommendations and boost sales. Learn how to leverage data analytics and AI to deliver personalized shopping experiences

How to Use Sentiment Analysis for Better Customer Feedback

Discover how sentiment analysis for feedback can transform your customer insights, boost satisfaction rates, and help you make data-driven decisions for your business growth

How to Streamline Document Management and Digital Filing

Discover proven strategies to optimize document management in your organization. Streamline digital filing, boost productivity, and ensure secure access to critical files

How to Improve Your Hiring Process with AI-Based Screening Tools

Discover how AI-Based Hiring Tools can streamline your recruitment process, reduce bias, and help you identify top talent faster while cutting costs and improving hiring outcomes

More like this

The Rise of the Lion: Greenlion Cleaning & Maintenance Inc. Assists Long Island Communities Recover After Hurricane Sandy

Freeport, NY, May 21, 2013 --(PR.com)-- Greenlion Cleaning Maintenance Inc. is...

Former Marine Creates The Vet View Talk Show to Highlight the Stories of America’s Heroes

San Diego, CA, April 27, 2013 --(PR.com)-- Jovane Henry, a former Marine,...

CBS LAUNCHES “CBS SMALL BUSINESS PULSE,” A NEW DIGITAL BRAND AIMED AT HELPING SMALL BUSINESS OWNERS SUCCEED

Features Original Editorial and Curated Content Relevant to Small Business Owners from Across Divisions of...

New MapifyPro Software Allows Full Customization of Google Maps

Cincinnati, OH, July 22, 2013 --(PR.com)-- From PaperTelevision, a design and development...

Entrepreneur Commits Suicide

As black entrepreneurs, especially BLACK black entrepreneurs we are a unique group of people who are often very misunderstood. People think we sit around and make a ton of money and do nothing but live a life of luxury. While most of us, who are successful, would not have it any other way, it is rare that we get to reap the benefits of our hard work because we often become addicted and married to our businesses and it is not always easy when you have TOO much control. [...]

Hyginex Hand Hygiene Compliance Solution Will be an Exhibitor at IDWeek 2013(TM)

Los Angeles, CA, October 02, 2013 --(PR.com)-- Electronic hand hygiene compliance solution,...

MyReviewsNow.net Together with Partner, the NHL Store Congratulate 2013 Stanley Cup Champions Chicago Blackhawks

Chicago, IL, June 28, 2013 --(PR.com)-- Dedicated hockey fans who cheered on...

Audacy Taps Ray Borelli as Senior Vice President of Research and Insights

Audacy has named Ray Borelli Senior Vice President of Research and Insights, effective immediately....

How to Manage Customer Data Efficiently with AI Tools

Discover how Customer Data Management with AI transforms business operations. Learn to leverage artificial intelligence for better data analysis and customer insights