I'm looking to use the classic Fisher Price Chatter Phone toy as a prop in a film. If logo stickers are off and the phone is slightly altered, do you think this would be a copyright issue to be concerned about?
Producing : Copyright of old toys by Danny Villanueva Jr.
Copyright of old toys
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When in doubt, ask for permission ...
If you're just using it as a prop in a passing manner it should be fine. If you're using it as a central part of your story (ie: as "Rosebud" in Citizen Kane, or a magic portal to another realm ala the game in "Jumanji") you should create your own prop. I've gone through clearances a lot and every studio/distributor is different. But general rules of thumb are, you can show a product and its labelling if it is not featured (for example you can walk down a supermarket aisle and see Tide next to All or Coke next to Pepsi, but as soon as your character picks up a Coke or talks about Jack Daniels while holding the bottle, you've gone too far).
Also one thing to be aware of is Art. Avoid seeing paintings, sculptures, murals, tattoos, posters, pictures and other forms of art unless you have a release from the artist and the owner. This even includes public murals and art installations. Public monuments (like Mount Rushmore) and public and private buildings can be filmed generally without releases, unless you are on the property or featuring it in a manner that suggests you are using it as a story telling device (ie the Brady House and the Amityville House would require releases, but the adjacent houses would probably not require releases).
Clothes with art on them (like printed T shirts) are considered Art and must be cleared. But Levi jeans or a designer dress can be worn without release, unless your character starts talking about the brand or designer in which case a release should be secured.
For the most part with common items being used for what they were intended (driving a Ford safely down the street, using a Kenmore dishwasher, playing a Hasbro game as part of a family scene) you will not have problems with E&O or clearances. But as soon as you begin featuring items, talking about them (positively or negatively) or making assertions about them (like saying "this house/item is haunted/can create a gateway to hell/will make your life better) you need to get releases for their use.
And like I said, every studio/network is different. I once sat in a meeting for a CW show where CW told us we couldn't use blank, white T shirts. Blank. White. T-shirts.