Madonna News

Jul 19

Madonna & Einstein

As the world will celebrate the 100th anniversary of Einstein's publication of the theory of relativity next year, the Hebrew University of Jerusalem, to which the genius bequeathed his intellectual property rights, expects to net a whopping royalty worth millions of dollars.
The university has already netted some $10m over the last eight years, since it started to exercise its rights, from royalties charged for the commercial use of Albert Einstein's name and image. However, it has not been driven by purely profit motives and has been very selective in allowing the use of the genius' name and.
Singing sensation Madonna was refused to use Einstein's image in a concert performance, as the university thought it was not in keeping with the preservation of his legacy, despite the potential royalties of thousands of dollars.
However, a request by director Steven Spielberg to use Einstein's image for a few seconds in AI: Artificial Intelligence was permitted for $600,000 in royalties.
In another case, Pepsi was allowed to use the most famous Jew's image in its commercials, but a liquor company that wished to launch a vodka named "Einstein"? was refused permission to use the name.
Last month, the university signed a 10-year royalty deal with a toy company of the Disney Group for a series of children's toys under the name "˜Baby Einstein'. Hebrew University VP and director-general Moshe Vigdor said that the annual royalties have ranged from $1-1.5m, but are expected to make substantial gains in '05. Germany, Einstein's native country, will be issuing commemorative stamps and coins, and talks are on to determine the royalties.
Before his death in 1955, Einstein, realised the commercial potential of his name and image, and decided to leave the commercial rights to the university behind which he was a driving force.
source : reuters.com

Categories : General News

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