The writer filed the lawsuit in 2007, demanding that the copyright to the property revert back to him and his company Gary Friedrich Enterprises LLC.
However, a court recently dismissed his case, ruling that Ghost Rider was a work-for-hire property and not revertible under 1976 legislation.
The case is reminiscent of Marv Wolfman's suit against the publisher over the rights to Blade, which he lost in 2000.
Created by Friedrich in collaboration with fellow writer Roy Thomas and artist Mike Ploog, Ghost Rider first appeared on the pages of Marvel Spotlight #5 in 1972. The supernatural anti-hero went on to star in several comic series and a Hollywood movie starring Nicolas Cage.