After a lengthy court battle, the rightful creator of the “Super Soaker” toy has been awarded $72.9 million.
Johnson Research and Development Co. and founder Lonnie Johnson were in a royalty dispute with Hasbro toy company since February over royalties accrued for the Nerf line toys between 2007 and 2012.
The arbitration agreement resolves a 2001 inventors dispute in which Hasbro agreed to pay Johnson royalties for products covered by his Nerf line of toys, specifically the N-Strike and Dart Tag brands, King & Spalding attorney Ben Easterlin said.
In a separate breach of contract suit filed in U.S. District Court in Atlanta in February, Johnson accuses Hasbro of violating a 1996 agreement to pay him Super Soaker royalties of 2 percent for “three-dimensional products” based on the appearance of the toy and 1 percent for “two-dimensional visual representations.”
The nuclear engineer founded his company in 1989. Johnson holds more than 80 patents, with over 20 pending. Super Soaker sales have reached closed to $1 billion.
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