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After owning the rights to the James Bond franchise for three decades, producers Michael G. Wilson and Barbara Broccoli are taking a step back as Amazon MGM Studios has now acquired the rights to the franchise, as Broccoli and Wilson continue to be co-owners.
As the deal goes, Amazon and the producers have established a new joint venture to hold the Bond intellectual property rights. The studio will now hold creative control over the franchise, with both the producers continuing to have partial authority over it.
Mike Hopkins, head of Prime Video and Amazon's MGM Studios, spoke about the deal in the official press release:
“We are grateful to the late Albert R. Broccoli and Harry Saltzman for bringing James Bond to movie theatres around the world, and to Michael G. Wilson and Barbara Broccoli for their unyielding dedication and their role in continuing the legacy of the franchise that is cherished by legions of fans worldwide. We are honoured to continue this treasured heritage, and look forward to ushering in the next phase of the legendary 007 for audiences around the world.”
Broccoli, who had acquired the rights to the franchise in 1995 after her father, Cubby Broccoli, handed them over to her and Wilson added,
“My life has been dedicated to maintaining and building upon the extraordinary legacy that was handed to Michael and me by our father, producer Cubby Broccoli. I have had the honour of working closely with four of the tremendously talented actors who have played 007 and thousands of wonderful artists within the industry. With the conclusion of No Time to Die and Michael retiring from the films, I feel it is time to focus on my other projects.”
As of now, Amazon MGM Studios holds the power to distribute the films in the franchise and will also be responsible for any future projects that may take shape.
What is the controversy surrounding James Bond's trademark rights?
The news of Amazon MGM acquiring the rights to the James Bond franchise comes shortly after Austrian businessman Josef Kleindienst made a case to buy the trademark to the franchise's merchandise, challenging EU laws that cite that a trademark can be sold to potential buyers if the name has not been used commercially in the last five years.
Mark Caddle, a patent attorney at Withers and Rogers, spoke about the case and said:
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“He [Josef Kleindienst] is challenging a number of UK and European Union trademark registrations for James Bond. The basis of the European Union filings is that James Bond has not been used for the goods and services it protects, and that is likely to be the same basis of the filings in the UK.”
The trademark rights to the franchise's merchandise belonged to Danjaq and Eon (owned by the Broccoli family). Still, with the new deal between Amazon MGM Studios and Wilson and Broccoli, it's certain that the lawsuit will also take a new shape.
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