Since the launch of an aggressive campaign last year, Innovation First has reported over 1,000 successful enforcement actions to date worldwide.
At the recent toy fairs, the company was successful in removing copycat products from the displays of over 40 companies.
The firm has also been successful in courtroom litigation, having resolved the lawsuit filed last May against Urban Trend.
Key terms of the settlement include a cash payment, the transfer of ownership of the 'i-insect' brand and all worldwide intellectual property rights owned by Urban Trend in the 'i-insect' to Innovation First. Further, Urban Trend agreed to cease the design, manufacture and sale of the products immediately.
“The successful enforcement actions along with the Urban Trend settlement are significant steps in our ongoing global campaign to protect our Hexbug Nano intellectual property,” said Tony Norman, president and chief executive officer of Innovation First International.
Spin Master has also been named European distribution partner for Hexbug, giving it visibility throughout Europe, making counterfeit products less appealing to retailers.
“We are very pleased to be partnering with a great brand like Hexbug, and a highly creative company like Innovation First,” said Anton Rabie, president and chief executive officer of Spin Master.
“We have a vested interest in the success of Hexbug and have given Innovation First full access to all of our resources in this important fight against Hexbug knock-offs.”
A number of cases remain pending against companies accused of manufacturing, advertising, promoting, distributing and/or selling products that were derived from innovative components of the Hexbug Nano micro robotic toy.