We prominently note a singular point concerning the intersection of the entertainment realm with brand/marketing activities on a web page of our experienced Los Angeles entertainment law firm. We stress at the Law Offices of Barry K. Rothman that “all parties involved should have guidance from lawyers with extensive, relevant experience.”
Arguably that didn’t occur when negotiating principals from rap mogul Jay-Z’s vast business empire inked a commercial deal with a brand management company some years.
The relevant details of a licensing agreement executed in 2013 between Jay Z’s Roc Nation apparel company and Iconix Brand Group Inc. related to the sale of the former’s enterprise to the brand marketer. Iconix is the owner of scores of apparel and footwear companies. It is a contractual partner to many licensees that have negotiated with it to provide brand and sponsorship assistance.
To state that Roc Nation has been unhappy with its Iconix partnership would be gross understatement. In fact, the apparel company and related Jay-Z business entities filed a lawsuit against the licensor last week, alleging among other things that Iconix has engaged in “a years-long fraud” that has cheated Roc Nation out of millions in revenues. The plaintiff seeks an unspecified amount of damages.
We underscore at our firm that any merchandising and sponsorship agreement intended to stand the test of time must be “mutually beneficial” for both licensors and licensees. There are many factors to spotlight and closely address relevant to any brand-linked contract, and failure to timely and comprehensively deal with them can yield unfortunate results down the road.
We welcome contacts to our firm concerning contractual matters relevant to both licensors and licensees, and the opportunity to apply our in-depth knowledge on behalf of valued entertainment industry clients.