GennComm and Beverly Hills Teddy Bear Company Resolve Licensing Dispute
GennComm LLC and Beverly Hills Teddy Bear Company announce that they have reached a mutually satisfactory resolution of long-pending intellectual property disputes concerning the design, use, and ownership to certain memory foam in plush toys, including Squeezamals.
GennComm is the owner of certain patents relating to memory foam in plush toys. GennComm’s patented technology was developed by GennComm’s ImaGENNation team, with Jeremy Medwed as inventor. In 2018, BHTB introduced its successful Squeezamals® product line featuring a unique look and feel, which earned the 2018 Toy of the Year in Plush Award from leading specialty toy retailer, Learning Express. As part of the parties’ agreement, GennComm has licensed its patents to BHTB on a non-exclusive basis.
The parties are relieved to put the past behind them and are anxious to move forward with a productive on-going relationship.