Exclusive: Mark Cuban is coming after Chinese ‘Hoverboard’ knockoffs with patent

TMZ reports that Mark Cuban and partner Shane Chen own the patent of the self-balanced scooter, commonly referred to as “hoverboards.” According to TMZ, Shane Chen got the patent in 2014 for a “two-wheel, self-balancing vehicle with independently movable foot placement sections.”

TMZ reveals Cuban and Chen sued IO Hawk (an “alleged knockoff” company) in June, and now plan to go after all knockoff companies together with Cuban. TMZ also reports that Cuban has begun sending cease and desist letters.

Hoverguru reached out to Cuban for comment.

“There is only one legal version and that’s the Hovertrax. Every other board is a knockoff,” he says, “No exceptions.”

Cuban tells Hoverguru they “have already sued IOHAWK and we will be protecting our IP globally at the reseller and manufacturing level,” adding “we have the Chinese patent.”

We asked Cuban about the price point of the Hovertrax (currently $1500) and he responded comparing it to the Chinese knockoffs:

“The [knockoff] prices have come down because they all use the same cheap components . Which is why units catch on fire, freak out and worse. You get what you pay for. Another huge difference is weight. Theirs keep getting heavier. Ours will get lighter.”

As Hovertrax gears up for the holiday season, Cuban indicated they have an even better product lined up:

“We are close to sold out on the originals and should have a new version in October that is big update.”

Learn more about ‘Hoverboards’ and chat with with Hoverguru live on CyberDust.

Update: Take a look at Shane Chen’s patents of the self-balancing scooter and learn more about them here.

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