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It is not as though proprietary characters have disappeared altogether, though.
Threshold's aim was a role reversal: that the proprietary characters would soon be courted to endorse their own breakfast cereals or chocolate bars.
They may lack the branding advantage of 70-year-old proprietary characters such as Iron Man or Superman but their sales figures would be the envy of many a consumer magazine or book publisher.
For instance, the company dug into its treasure of proprietary characters and came up with a 3-D adventure, Mickey's PhilharMagic, located inside its original park, the Magic Kingdom.
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On the other hand, the film's intermingling of Warner Bros. and Disney proprietary cartoon characters recalls William Blake's The Marriage of Heaven and Hell, which is a smooth slide into the Lake of Fire, so, it's hard to really recommend this one as an Easter flick.
The Waygo app works even if your smartphone isn't connected to the Internet by using proprietary optical-character recognition (OCR) technology and can translate individual characters and short phrases.
The slap had a proprietary quality.
So as a general rule, when a new industry takes root, and the first products emerge in a wave, almost always the architecture of the product will be proprietary and interdependent in character.
Still, the gurus believe this company, which has developed a proprietary library of nearly 5,000 characters such as Spider-Man, the Incredible Hulk and X-Men, will be able to generate profitable sales of its licenses thanks to the release of number of recent movies based on these characters.
"Holding substantial securities in a trading book for an extended period obviously assumes the character of a proprietary position, particularly if not specifically hedged," Mr. Volcker wrote in his comment letter.
His company is working on the technology itself – including its proprietary PullString software which powers the character conversations – along with the ToyTalk app line-up.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com