Walt-Disney In Intellectual Property Spat With A Marvel Artist (DIS)
Walt-Disney (NYSE: DIS) acquired Marvel Entertainment for $4 billion. Along with other assets, it also received a well-stocked library of comic characters. Marvel’s vaults included some of the world’s best known superheroes such as the X-Men, Spider-Man and the Fantastic Four. However, there is a battle ensuing between Marvel and the heirs of Jack Kirby, the artist who created many of these legendary comic characters.
In 2009, Jack Kirby’s heirs won a profit-sharing deal against Marvel. As a result, a part of Superman profits was channeled to the heirs. However, the Kirby family now seeks to regain the ownership of the cartoon characters. The family has filed a lawsuit against Marvel and Disney (DIS), which have retaliated with a counter-lawsuit. Both the parties are claiming to be the rightful owners of the characters. The legal battle underscores the importance of Intellectual property laws.
