The movie put Lucas on the map of Hollywood, and he became a sought-after director in the industry. George Lucas was not the kind of person to direct just any movie.
He had a specific vision for his projects that he wanted to come to life. One such project was set in space in the Western era, better known as Star Wars today. The entire saga spans about fifty-five years. Following the success of American Graffiti, George Lucas worked for two years on building a script for a movie he called The Star Wars.
He presented the idea of Star Wars to United Artists and Universal studios, but they rejected the movie. Lucas remained persistent and went to 20th Century Fox. It's also likely that Lucas will require an advance and a guarantee, which will run into the hundreds of millions of dollars. Or he may take his payment in the form of stock. In the case of Galoob, some speculate Lucas may trade licensing rights for a large chunk of the company's common stock.
Hasbro, Galoob, Mattel, and Lucas all declined to comment. Simpson is hoping that good news from Lucas will move the stock even more. From Galoob's standpoint at least, the force is definitely with George Lucas.
More from Fortune Will Mmmhops be a hit? NBA confirms L. The droid was not an original creation of an employee of the company, so the patent rights were assigned to the company. Star Wars registered for an enormous range of products which even included DVDs, software, etc. All of this brought millions of dollars to Lucasfilms and even Lucas himself. The copyright ranges from artistic expressions, including scripts, movie posters, sound recordings for example Star war books, e-books, screenplays, soundtracks, and films and tv programmes.
The artistic work would include logos, graphics, photographs, images of fictional characters which play great importance in this franchise for example Yoda, R2 D2, and many more. Such fictional characters can then be reproduced on a mug or lunchbox, or clothing and that hit a fortune for George Lucas as the markets were flooded with the products. These copyrighted products helped Lucas in a lot of infringement cases, and he made a great deal out of it too.
Merchandising is a very strong way to earn a lot of money and it can be incredibly lucrative for business. Merchandising refers to a wide range of activities that increase the visibility and accessibility of products, including window displays and shop floor layouts. George Lucas had taken all the merchandising rights earlier and that was his best decision as this made all the real money. We know product licensing involves two parties: a licensor and a licensee. The licensor owns the rights to intellectual property IP while the licensee manufactures products using the IP granted by the licensor LucasFilms via a license agreement.
A product or merchandise license allows licensees to leverage popular IP to create branded products, usually for a specific period. Once the rights have been secured, the licensee manufactures a product using the licensed IP, and in return pays the licensor a royalty for its use. This can be a flat fee or a percentage of the sales of the products that incorporated the IP. This model can be applied to nearly any product, from apparel and accessories to toys, home goods, and more.
The product licensing model helps both parties to gain relevancy, recall, and revenue. Back then, of course, no one realized how valuable that right was, and for years Kenner made millions of dollars selling little plastic Princess Leias and R2-D2s. Send MSN Feedback. How can we improve?
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