COMMENTARY: Summer Is Here!

Yes, yes, I know that summer actually starts next month. But for all intents and purposes, Memorial Day weekend is the unofficial start of summer, and for the next three months, we’ll be cramming in as many cookouts, camping trips, beach days, and family get-togethers as we can. Kids have already started the countdown to the end of the school year, and after the long, harsh winter we had here in the northeast this year, they’re ready to get out and make the most of their summer vacation. Here are some great outdoor toys that will make it a summer to remember:

slipnslide

The Slip ‘n Slide Wave Rider, from Wham-O, is an obvious go-to for a hot summer day. This 16-foot slide is a classic way for kids ages 5 to 12 to cool off and have hours of fun. Hydro-glide technology creates water beads on the surface, giving kids a fast ride, and the included boogie board gives an even smoother time as kids slide alongside the water bumper and into the splash pool. The bumper also continuously sprays water, guaranteeing a cool, wet ride. [Read more...]

Ruling Issued in Hasbro Arbitration

Hasbro logoPreviously, inventor licensor Johnson Research had brought claims against Hasbro based on two licensing agreements between the parties. One license agreement related to certain products included in Hasbro’s Super Soaker product line, while the other related to certain products included in Hasbro’s Nerf product line.

Johnson Research claimed that the license agreements require the payment of royalties by Hasbro on a significantly greater number of products in each of those respective product lines than the company believed was the case. The claims related to the Nerf products were pursued by the licensor in binding arbitration in Atlanta as was required by the license.

Johnson Research made a demand for arbitration with respect to the Nerf claims, and on October 29, the arbitrator issued a ruling awarding a total of $72,932,686, including damages, interest, fees and expenses, to the licensor. In connection with this ruling and applicable accounting requirements, Hasbro anticipates taking an additional charge to its earnings for the fiscal quarter that ended September 29. The company is currently assessing the impact to third quarter results and it will be reflected in its Form 10-Q for that same period.

Hasbro Files Infringement Lawsuits Against Toy Companies

Hasbro, Inc. has filed lawsuits against Buzz Bee Toys, Inc. and Lanard Toys, Inc. for patent infringement for its Nerf and Super Soaker brands. The lawsuits were filed in the United States Federal Court in Springfield, Mass.

Hasbro is seeking to enjoin both companies from infringing two U.S. patents relating to its Nerf-N-Strike Disc Shot blaster. Additionally, the company has sued Buzz Bee Toys for infringing its Nerf Super Soaker water product patent. Hasbro is also seeking monetary damages from both companies for illegal use of its patented technology.