http://thegedsection.com/blogs/super-soaker-inventor-awarded-72-9-million-in-unpaid-royalties
Super Soaker Inventor Awarded $72.9 Million In Unpaid Royalties!
By Evan Vitkovski via FanBread | April 20, 2016
From Switch Media This post has been edited.
Summer's coming, so get out the water guns! But don't forget to remember who brought you that guaranteed good time.
Super Soaker creator Lonnie Johnson will no doubt be celebrating his victory in court, where he was awarded nearly $73 million from toy company giant Hasbro Inc. for royalty payments on products based on his designs sold between 2007 to 2012.
Atlanta attorney Leigh Baier is quoted as saying: “In the arbitration we got everything we asked for. The arbitrator ruled totally in Lonnie’s favor.” Sounds like Hasbro really tried to short change the genius behind their iconic product.
http://danwin.com/2013/11/lonn...
In another lawsuit between Johnson Research and Development Co. and Hasbro that was filed in February, Johnson says the toy company didn't honor a 1996 agreement to pay him royalties amounting to 2% on three-dimensional products based on the Super Soaker design, and 1% on two-dimensional visual representations.
According to the lawsuit, Hasbro sold products that were "visually similar and based upon the appearance of Super Soaker water guns that incorporate Johnson’s technology.” Inventors and entrepreneurs need to be careful and pay attention to who they do business with.
Johnson, a nuclear engineer, started his own company and licensed the Super Soaker design to Larami Corp. in 1989. In the first three years of production, the souped-up water gun sold 27 million units at $10 each. Larami was eventually bought by Hasbro and, according to one report, they have sold over 200 million squirt guns including more than 175 different kinds of Super Soakers. That amounts to upwards of $1 BILLION dollars in sales!
Johnson holds over 80 patents, and 20 more are still pending. He has worked for NASA's Jet Propulsion Lab on several projects, and has reinvested a lot of the profits from his inventions into researching rechargeable batteries and thermodynamic energy conversion technology.
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Inventors and creators deserve to be paid for their work, and corporations have no place trying to swindle them. Share your love for Super Soakers by posting this man's story on social media!
This post was originally published on Switch Media and has been edited for Team DL.
Super Soaker Inventor Awarded $72.9 Million In Unpaid Royalties!
By Evan Vitkovski via FanBread | April 20, 2016
From Switch Media This post has been edited.
Summer's coming, so get out the water guns! But don't forget to remember who brought you that guaranteed good time.
Super Soaker creator Lonnie Johnson will no doubt be celebrating his victory in court, where he was awarded nearly $73 million from toy company giant Hasbro Inc. for royalty payments on products based on his designs sold between 2007 to 2012.
Atlanta attorney Leigh Baier is quoted as saying: “In the arbitration we got everything we asked for. The arbitrator ruled totally in Lonnie’s favor.” Sounds like Hasbro really tried to short change the genius behind their iconic product.
http://danwin.com/2013/11/lonn...
In another lawsuit between Johnson Research and Development Co. and Hasbro that was filed in February, Johnson says the toy company didn't honor a 1996 agreement to pay him royalties amounting to 2% on three-dimensional products based on the Super Soaker design, and 1% on two-dimensional visual representations.
According to the lawsuit, Hasbro sold products that were "visually similar and based upon the appearance of Super Soaker water guns that incorporate Johnson’s technology.” Inventors and entrepreneurs need to be careful and pay attention to who they do business with.
Johnson, a nuclear engineer, started his own company and licensed the Super Soaker design to Larami Corp. in 1989. In the first three years of production, the souped-up water gun sold 27 million units at $10 each. Larami was eventually bought by Hasbro and, according to one report, they have sold over 200 million squirt guns including more than 175 different kinds of Super Soakers. That amounts to upwards of $1 BILLION dollars in sales!
Johnson holds over 80 patents, and 20 more are still pending. He has worked for NASA's Jet Propulsion Lab on several projects, and has reinvested a lot of the profits from his inventions into researching rechargeable batteries and thermodynamic energy conversion technology.
RELATED
Buffalo Bills Percy Harvin Retiring From Football After Explosive C...
It's Official! Harriet Tubman Will Be the New Face of the $20 Bill....
Inventors and creators deserve to be paid for their work, and corporations have no place trying to swindle them. Share your love for Super Soakers by posting this man's story on social media!
This post was originally published on Switch Media and has been edited for Team DL.
so they went out there way to steal his design because he was black?
