Monday, August 09, 2010Last Update: 8:30 AM PT Toymaker Sues Stan Lee and POW!
If Stan Lee's Super Seven name is older than the Toymaker's Super7 then why would Stan promise to them not to use the name? He could have used Super Eight, or Super Sixers. Maybe those names aren't taken.
I don't think that POW should promise not to use the name (especially if POW is in the right), but I do think they should avoid a lawsuit. Being sued is not good for the share price. I also don't want to see this project get held up because of a name dispute.
I dont see this getting to court. The financial burden in this Stan Lee case reverts to POWN. And POWN has no money. The Dec. 31 Disney money is mostly gone. So where would the cash needed to defend the case come from? No new investors in their right minds will pump $3+ mill into a company with the possibility their investment capital may never fund the growth it was intended. And without this needed investor capital that is on the horizon, POWN's only other option I am aware of is to approach Disney.
I would expect a POWN attempt at resolution quickly on this if it wants this investment capital.