Coleco was founded way back in 1932, and famously released the Cabbage Patch Kids series of dolls which were wildly successful in the 1980s.
They entered the video game console market in 1982 with the launch of the ColecoVision. When the video game market hit the wall in 1983 due to the rise of home computers, Coleco introduced Adam both as a stand-alone system and as an expansion module to the ColecoVision. Adam failed, largely because it proved unreliable, and withdrew from electronics early in 1985.
In 1986, they introduced an ALF plush based on the furry alien character who had his own television series at the time, as well as a talking version and a cassette-playing "Storytelling ALF" doll. The runaway success of the dolls could not stem the tide of red ink that had begun with the launch of Adam. In 1988, the company filed for bankruptcy, and in 1989, Hasbro purchased Coleco's assets.
In 2005, River West Brands, a Chicago-based brand revitalization company, re-introduced Coleco to the marketplace. In late 2006, they introduced the Coleco Sonic, a handheld system containing twenty Sega Master System and Sega Game Gear games.
Companies come and go but patents are forever-- the former Hartford, Connecticut firm has these 86 patents, recorded for posterity.
One of the last inventions was back in 1989 called Conversing Dolls (U.S. Patent 4857030):
Two or more dolls with speech synthecizing systems appear to intelligently converse while signaling each other via a radio frequency transmission to indicate what has been spoken, and to request a response which is intelligent with respect to the synthecized speech of the first doll.
Here's the fascinating River West positioning--
River West Brands LLC identifies, acquires, redevelops, and monetizes iconic brand intellectual property that is significantly distressed. We seek to manage a portfolio of holdings in well-led enterprises formed around the foundation of great brands, great people, great partners, and great strategies. Our goal is to grow this portfolio through the continued success of our positions today, and the selective addition of new ones over time. We recognized the opportunity presented by dormant brands in 2001, and have been working to systematically transform these brands from orphans into valuable assets ever since. We are the first company ever to successfully acquire and exploit brands in this new emerging asset class.
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