Few people realize how important contractual agreements are until they find that they have been violated. This was certainly the case for two business partners who believe they missed out on thousands, if not millions, of dollars in royalties and advances when their former business partner wrote them out of a publishing company. Now they are fighting back in the form of a lawsuit.
The two business partners had both been a part of The Writers Coffee Shop, which was the original publisher for the ‘Fifty Shades of Grey’ trilogy. According to contracts signed by the two business partners and another woman, the company owned the publishing rights to the trilogy, which sold more than 70 million copies in its debut year in 2012.
According to contractual agreements, the two partners were to profit from the sale of the books along with its author, E.L. James. But in what can only be assumed was a scheme of greed, things suddenly changed. The partners claim that the third woman came to them and suggested that they convert the publishing company into another company and putting it under the third woman’s name for “tax reasons.” Unbeknownst to them though she had already converted the company and when the two partners agreed to sign a new service agreement, they were immediately terminated.
The trilogy’s continued success has led the former business partners to believe that they have missed out on “millions in advances and future royalties.” They are currently suing their former partner for violating state commercial laws and hope to recoup the damages they believe they have suffered.
Source: Courthouse News Service, “'Fifty Shades of Greed' Lawsuit,” Robert Kahn, May 30, 2014