MUMBAI: The co-creator of Spiderman for Marvel Enterprises, Stan Lee, has been told by a Manhattan court that he is entitled to 10 per cent of the profit his characters produced.

Lee, who is 82, sued Marvel in November 2002 for failing to honour an agreement giving him a 10 per cent interest in the profits.

Media reports say that he signed a new agreement with Marvel in November 1998; after which the company was bought by ToyBiz Inc. However because of an "accounting" problem, ToyBiz refused to pay this percentage to Lee.

The lawsuit marks an acrimonious final chapter in the long and productive relationship between Marvel and Lee, who spent the last six decades working for the company. During a storied career, Lee created indelible Marvel fixtures such as the X-Men, the Incredible Hulk, Daredevil and The Fantastic Four.

Both Spiderman movies have taken more than $800 million each at the box office and sales from related goods will add another $100 million to this figure.

Marvel eventually collected more than $50 million in profits from Spider-Man earnings.