Alright, so I did some quick research on the King Kong IP issue so I could stop speculating. This is interesting (and funny enough ties in with my comments on Donkey Kong earlier):
"Universal’s King Kong movie debuted in 1976, but it wasn’t an original story. Rather, the movie was a remake of a movie with the same title made in 1933 by RKO General. The 1976 remake came with its own round of litigation, with many parties claiming to have at least partial rights over the name, characters, and plot of the movie. Universal, however, argued that no one did, and that the characters and plot were in the public domain. In the subsequent litigation with Nintendo, the court noted this inconsistency, using it as part of the basis for finding that Nintendo’s Donkey Kong game did not infringe upon Universal’s rights (if any) over King Kong. Nintendo prevailed, and, when Universal appealed, the next court admonished Universal for its inconsistent legal logic.
Finally, Universal’s conduct amounted to an abuse of judicial processes, and in that sense caused a larger harm to the public as a whole. Depending on the commercial results, Universal alternatively argued to the courts, first, that King Kong was part of the public domain, and then second, that King Kong was not part of the public domain, and that Universal possessed exclusive trademark rights in it. Universal’s assertions in court were based not on any good faith belief in their truth, but on the mistaken belief that it could use the courts to turn a profit." - abovethelaw.com