So what I what I what I did here is just pull pull one of the key provisions on the substantive side from this profit sharing agreement so we could try to figure out again whats possible for for the Kanye West of the world. Absolutely. West created his first Yeezy shoes with Nike in 2007, and then . We don't know - still - who the next US president will be, but we do know who it won't be - Kanye West. Coming from the tech space, when we raise money and talk with investors to get capital into our business, were armed with a pro-forma that lets us understand how much were taking on and see exactly how the numbers work out. Most comprehensive library of legal defined terms on your mobile device. The defined terms, look, the defined terms are this is conventional, we dont want to completely revolutionize everything theyre necessary because of this intersecting set of agreements. Lets rewrite the deals to be understandable from first rate. Tell me what people are talking about. 88-Keys . Right. ET . Before we do, Ross, I want you to tell me about yourself. Well, Im looking at the after and, you know, its shorter which which tells me something about the the utility of cutting these bits of archaic language. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. Kanye West leaked his recording contracts on Twitter. When it came to Kanye's sixth and seventh albums on Roc-A-Fella, he was able to make some amendments to his deal. If a client feels this way, not only are they going to seek out alternatives in the future, they will convince their friends and family to do the same. He ended the spree with, 'Whew that was a lot guys," and then tweeted a video of himself peeing on a Grammy award. Another example is General Electric. How can you rewrite a contract to be understandable without losing the original intent? How are businesses shifting to using plain language? Ross Guberman [00:03:18] And so Im the president of legal writing prose, so Ive been doing workshops and consulting on all different aspects of lawyer writing and judicial writing for a couple of decades now. Ross Guberman [00:09:03] Yeah, exactly. Theyll follow their attorneys recommendation. So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. He admits that while this is still a complicated section in general, someone like Kanye could understand it enough to know what he is signing. I AM ON MY KNEES THIS MORNING," he tweeted before dropping the proof. It would also give Adele the largest record deal for a British musician by surpassing . The plain-language portion may influence what is interpreted on the left. Report: Kanyes Anti-Semitic Rhetoric Led to Assaults, Vandalism, If you have a kid who knows nothing about law and sees all this money, these contracts are 60 pages long, who the fuck is reading that? longtime A&R exec Chris Anokute, Anokute manages several clients including Curtis Waters, who recently went viral through his TikTok hit Stunnin. While Waters was courted by many major labels,at Anokutes counsel, he signed a shorter-term 60-40 profit-split deal with BMG. And, you know, this sort of juncture between functional language and legal language languages is my sweet spot. Uploaded for archival purposes. Theres no more independent plants, no more putting all these CDs in a truck and shipping them from store to store across the country, Chris Anokute, founder of entertainment company Young Forever Inc. and a former A&R executive for labels including Capitol and Island Def Jam, tells Rolling Stone. Kanye West has been active on Twitter once again. Oct. 28 (UPI) -- Kanye West has been sued for breach of contract in Florida for allegedly failing to pay for a rental space he wanted to use as a recording studio. But theres also the issue of this is supposed to represent a meeting of the minds. If Im the lawyer there, there are terms of art. We were broke college kids right after the recession. So so talk to me about this profit sharing piece. She argues that the relationship between the parties should dictate options, then the parties themselves should make informed choices. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. Thats a sort of grey area, and I think its an important conversation to be had., Editors picks We were broke college kids right after the recession. Mike Whelan [00:07:53] Well, and heres another one from LinkedIn, this sort of two column set up in the license image. Adidas said on Tuesday that it was cutting ties with Kanye West, ending what may have been the most significant corporate fashion partnership of the rapper and . On Wednesday afternoon (Sept. 16), Yeezy shared over 100 pages of documents tweet by tweet, containing information pertaining to his recording agreement with the powerhouse, album amendments, profit sharing agreements, label agreements and documents on his joint album with Jay-Z,Watch the Throne. Advances are just loans!! This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? The outspoken music artist - who considered running. . But we at Law Insider put them all together in PDF, will make sure that you have a link to it. So we dont want to change recouped because now we would be not faithful to the substance. Kanye West continues his campaign against major record labels. When your term ends, download it all. They dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. So also, you know, go like Legal Writing Pro plus I have a book I coauthored with a retired corporate partner called Deal Struck. Copyright 2023 Penske Business Media, LLC. As Kanye West escalates his battle with Universal Music Group, the Chicago rapper decided to share the entirety of his record contract on Twitter. According to West's court papers, he's been "laboring" for EMI since 2003, when during the recording of College Dropout he signed a "lopsided" contract with the music publisher. We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. However, the film has not yet been released. Send us a tip using our anonymous form. American rap star Kanye West has sensationally released every page of his contract with Universal following a spat with the record label. Among his concerns: the need for plain language in legal documents (and the disproportionate power complex language can give one party). Thats not the game here, Noonan recalls as the mindset when negotiating contracts. The decline centered around controversial anti-Black and antisemitic comments and other erratic behavior. Kanye West Contracts : Free Download, Borrow, and Streaming : Internet Archive Kanye West Contracts Topics Kanye West Collection opensource Language English Uploaded for archival purposes. Mike Whelan [00:03:02] Thats right. In in your estimation, does this thread the needle of checking the legal boxes, but also being plain enough? In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. Island Def JamMusic Group also agreed to give Kanye the rights, title and interest in all of the masters for his sixth and seventh album, but only after the reversion datethe last day of the semi-annual accounting periodwhich is 20 years after the initial release of the seventh album. Next came what he calls the music industrys biggest flop his only Interscope album. Kanye West had already been burning bridges in the music industry. Was the pissing on the Grammy to much? So get rid of it. Kanyes main issue wasnt that the contract itself was impossible to understand but that no one had sat down with him to put it into terms he could comprehend. So tell me about this before. One way to begin is by bracketing off phrases or words that you know have a substantive value. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. Portals. A month ago, Kanye West had an emotional breakdown on Twitter. GOOD Music (stylized as G.O.O.D. A Lawyers role is to IMPROVE deals. Kanye West signed his co-publishing contract with music publisher EMIwho is now owned by Sony/ATVin 2003, before the completion and release of his 2004 debut album, The College Dropout. The breakdown for this amount was:$1.5 million was to be distributed to record the album. Ye said of the images: "This is what me Kanye West deal looks like . I do a lot of these kind of microlevel edits that people seem to like. Youve been dealing with this for a while. So lets take another example from the Kanye contract. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? He says the industry must holistically evaluate how to improve for any major changes to shift. As usual, West's behavior has spurred an onslaught of speculation regarding a possible return to a business relationship with Nike. You should need NO ONE else to understand the business youre in. Join me and my friends. Royalty portals need to show (and do not now) Every song you delivered, Every store you are in, How many streams per song Income per song. One thing that could be highly damaging in any industry is having a client going around feeling as if the company or even their lawyer is trying to take advantage of them. His. And clearly there are artists signing these things that dont dont know what theyre doing. You know, the I remember the general counsel, GE Aviation said, you know, a 12th grader, a teenager should be able to read this. How do I nudge a contract toward plain language without undermining the agreement? Advances. Is this incorporated in in any way? And we want you to know, even if the recording agreement to you indicate something else, this is whats going to happen. Will we be seeing a President Kanye? 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