Actually it's still a joint venture, wasn't there an article where it said they flew Takara and Hasbro engineers to work with the ILM guys?

 

Transformers toys created with the intention to release them on the Hasbro market are usually designed in cooperation between Hasbro and Takara. Hasbro provides the concept, the style, the gimmicks and a general idea of how the transformation is supposed to work, and Takara engineers that into a working toy. Hasbro then create the color scheme. Both company cooperate closely on all stages. Only with toys that are exclusively designed for the Japanese market Hasbro usually aren't involved in the design process, which is why those toys tend to have pretty shitty alt modes (which is not to say that toys Hasbro are involved in never have shitty alt modes).

 

Take a look a this thread for a closer look at BB

http://www.donmurphy.net/board/showthread.php?t=18284