5:23 PM PT -- JC Lee and Shirrel Rhoades -- the Prez of Stan Lee Entertainment -- tell TMZ, "We are working together to remedy all the issues created by Stan Lee's past relationship with Pow! Entertainment."
They say, "We share the same commitment to create a legacy befitting one of the greatest story tellers and character creators of all time- a legacy Stan Lee earned ... and deserves." JC and Shirrel make it clear they want to distance themselves from POW! and keep Stan's legacy intact.
The company Stan Lee founded is now battling Stan Lee's daughter and heir for control over his extremely valuable name, likeness and ideas.
Weird as it might sound ... Stan Lee Entertainment is suing Joan Celia Lee, claiming she's trying to cash in on her dad when she has no legal right to do so -- even though she's the sole heir to his fortune.
According to docs, the company Stan founded in 1998 -- as an animation publishing and entertainment company -- was assigned rights to his name, likeness, ideas, characters, stories, logos, etc. Basically, if Stan thought it ... SLE owns it ... according to the company.
However, SLE claims since the big cheese died in 2018, JC's failed to protect SLE's legal hold on its right to Stan's intellectual property. Specifically, in the suit, SLE calls out POW! Entertainment for interloping ... trying to "loot SLE's intellectual property."
SLE is looking for JC to play Captain America or Iron Man, and save the day. In its suit, the company says as trustee for the Lee Family Survivor's Trust ... JC has a "duty to vindicate the rights" of SLE against villains like POW!
Stan's co. wants the court to force JC to hold up her end of the bargain, and defend SLE against all evildoers -- or as the lawsuit puts it ... POW! and other entities trying to jack Stan's valuable ideas.
It also wants a declaration that SLE is the rightful owner of Stan's creations.