Leading online gaming software developer CryptoLogic announced this week that the dispute between them (WaterLogic Ltd.) and Marvel over the licensing rights of Marcel comic book characters has been settled amicably.
First of all, the companies agreed to no exclusive licensing rights to the character which is harsh on CryptoLogic as they used to have exclusive rights. However, CryptoLogic is now getting much lower prices for the non-exclusivity, an expansion to include the games in mobile platforms, the ability to offer these games in hotel rooms and the chance to develope new games.
In 2005, CryptoLogic signed an agreement with Marvel that made them “the sole, worldwide developer of Marvel-branded internet casino games.”
The dispute began when another software developing company, Playtech, starting launching slots using the comic books as topics. Even though the CryptoLogic slots focus on the original comic books and the Playtech slots focus on the more recent movie versions, CryptoLogic was not happy to not be the only ones marketing such games.
It seems like both companies are happy with the new agreement and it is good that instead of going to court, they solved this through an arbitration process.