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Since your product is already based off of a licensed product I'm going to guess no to the legal action. Legally, you would need to purchase and secure the rights to exclusively produce 'beadie buddy' Ninja Turtles. If you were to call it something else, you might be able to secure a patent for your pattern. However, if someone is 'inspired' by your design and alters it slightly, you would have no claim against him/her. This is a problem the entire design world faces everyday unfortunately. I have friends who's designs for hats and clothing have blatantly been stolen from places like the GAP and there was nothing they could really do about it.And I think at the end of the day, to pursue legal action for something like that would end up costing you a lot of money.Hope that gives you a bit of perspective.
I was hoping to hear a personal 'real life' story, thanks joey.Yeah, I figured I'd get that sort of response... Thanks everyone!