THE ASSOCIATED PRESS has reported that SPIDER-MAN creator Stan Lee has filed a $10 million lawsuit against Marvel Entertainment, seeking 10% of the profits from the blockbuster franchise SPIDER-MAN. Lee, who has created a myriad of super hero characters for Marvel, including SPIDER-MAN, claims Marvel Entertainment signed a deal to give him 10% of any profits from his characters used in films and television shows. Although SPIDER-MAN has grossed over $800 million worldwide, Lee says he hasn't seen any money from his character's newfound global success. "Despite reaping enormous benefits from Mr. Lee's creations, defendants have failed and refused to honor their commitments to him," charges the lawsuit, filed November 12, 2002 in Manhattan federal court. According to AP, in addition to receiving compensation for SPIDER-MAN and its planned 2004 sequel, Lee hopes to get a percentage of profits from the forthcoming February 2003 flick DAREDEVIL, as well as THE HULK and X-MEN 2, also scheduled for release in 2003.
"Comic Wars: How Two Tycoons Battled Over the Marvel Comics Empire -- And Both Lost." Danny Fingeroth reviews Dan Raviv's book on the legal wrangling between two businessmen for control of Marvel Comics, which reveals the power of dollars and its impact on the art.