by Tamera H. Bennettposted February 12, 2009
Bob Marley's estate inked a merchandising agreement with private equity group Hilco Consumer Capital for the rights to license not only the reggae singer's name & likeness, but also other branded products under the Tuff Gong, One Love, Three Little Birds, Catch A Fire and Relics of Antiquity names.
Reports state an influx of $20 million to the House of Marley, LLC for Hilco to acquire a 50% interest in the House of Marley. "House of Marley would earn a royalty of 5% to 10% on sales of licensed products, according to a person familiar with the matter."
One of the first missions after the acquisition is to crack down on the estimated $600 million lost to counterfeiters each year.
In addition to Marley's name and likeness rights, what trademarks will be used? Filed with the USPTO, there are currently 2 active registrations and 17 pending applications listing Fifty-Six Hope Road Music Limited as the owner/applicant. The goods and services range from coffee to clothing.
There are also pending trademark applications in the applicant names of Tuff Gong Clothing, LLC and TG CLOTHING, LP.
In addition to the trademark rights, the family plans to be more aggressive in licensing the sound recordings and songs written by Bob Marley.