LEAPS AND BOUND­ARIES

Business Day - Business Law and Tax Review - - BUSINESS LAW & TAX REVIEW -

could shoot web-like ma­te­rial from the palm of the user’s hand, thus mim­ick­ing Spi­der-Man’s web-shoot­ers. De­spite an un­suc­cess­ful at­tempt by Kim­ble to sell the patent to Marvel, Marvel com­menced sell­ing its own Web Blaster. Kim­ble in turn sued Marvel for in­fringe­ment of his patent. The mat­ter was set­tled in 2001 when Marvel pur­chased the patent from Kim­ble for more than $500,000 and roy­al­ties of 3% of net prod­uct sales. It is al­leged that Marvel paid in ex­cess of $6m in roy­al­ties prior to the ex­piry of the patent in 2010.

The set­tle­ment

agree­ment

Thys Co

Pic­ture: THINKSTOCK

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