Ross Guberman [00:01:18] If it works, right? This is Kanyes contracts. Most comprehensive library of legal defined terms on your mobile device. (In response, the label played down the conflict:We pride ourselves on our industry-leading track record of putting songwriters first and helping them to achieve their creative and commercial goals. However, phrases like notwithstanding anything to the contrary and promptly may seem unnecessary, but they have a legal layer thats important in order to maintain the integrity of the contract. What do you see? He released his two Grammy-winning albums independently more than 20 years later, and he hasnt inquired about the recoupment on his first record in years. Kanye West gave the world a rare glimpse into the music industry 's labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then. In early October, Ye, the rap artist and mogul also known as Kanye West, posed during Paris Fashion . I need every lawyer in the world to look at these," he wrote. After the advance was recouped, 15 percent of royalties were to be given to both artists. Other brands and companies that cut ties to West . Is this part of the contract or are they saying this is a separate thing? Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. They will help you draft better contracts faster. Kanye West had already been burning bridges in the music industry. Ross and I dig into Kanyes request for plain language drafting and whether its even realistic. . Come join me. Kanye Omari West (born June 8, 1977) is an American rapper, singer, songwriter, record producer, entrepreneur and fashion designer. Its sort of a it, Ross Guberman [00:17:40] hasnt been taken. "UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD TO BUY THEM," Kanye tweeted on Wednesday (Sept. 16). Kanye West, seen in 2019, has lost business deals in light of his recent antisemitic remarks. So, Ross, were going to tear down the contracts that Kanye shared. Ross Guberman [00:05:55] Yeah, I mean, its obviously a common plea, not just from Kanye West, but from all sorts of, you know, business executives to theres been sort of push and pull over the decades that people have been complaining about contract language for longer than either of us has been alive, of course. Uploaded for archival purposes. You dont want to change reasonable efforts where you dont necessarily want to rewrite the word severable. Record Companies have to buy into you, not loan you. Mike Whelan [00:10:12] Hey, everybody, Im Mike Whelen. And thats, you know, damaging conclusion from many perspectives. So, you know, my provision, these are coded blue brief catch picking up on a lot of those. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. This is the Def Jam amendment. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Moments later, Kanye shared screenshots of five files. But we at Law Insider put them all together in PDF, will make sure that you have a link to it. Ye went from $6.6 billion to maybe $400 million. Come join my friends. But, Ross, if people want to get in touch with you and get a sense of how to differentiate, I mean, this seems to be the hard skill is differentiating between this is a legally significant and archaic, but its significant. Twenty-two percent of royalties were to be given on both the sixth and seventh albums. West created his first Yeezy shoes with Nike in 2007, and then . The rapper initially sued the . Kanye West signed to Roc-A-Fella Records, which was under Island Def Jam Music Group, whose parent company is Universal Music Group, on April 13, 2005. web pages Facebook did something a little bit different, but along the same lines to, you know, to keep the language the lawyers want on the left and then on the right either introduced the topic or the issue that the provision covers or in some cases actually rewrite it in plain English, as you know, were discussing. Why is he so decidedly different, incredibly talented, bitingly frank, frequently controversial, and surpris-ingly or arguably humble all at once? Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? West also made his feelings towards the label clear in 2020, when he tweeted images of his record contract, noting he felt he was treated unfairly. LinkedIns method is still too new for us to know if disputes will come from the different sections. Ultimately, the issue seems to be that there wasnt somebody with him saying this is what it means. The 100 Greatest TV Shows of All Time Be the first one to, Advanced embedding details, examples, and help, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_abbyy.gz, 2011.01.11-Kanye WestJay Z Duet Album Agreement_abbyy.gz, 2012.05.04-Amendment recording agreement_abbyy.gz, 2012.05.07-Amendment, including original recording agreement_abbyy.gz, 2012.05.07-Profit Share Agreement_abbyy.gz, 2012.05.17-Amendment to Recording Agreement and Film Agreement_abbyy.gz, 2013.03.10-Amendment recording agreement_abbyy.gz, 2014.08.11-Amendment recording agreement_abbyy.gz, 2019.01.09--Summary of Kanye West's Label Agreements_abbyy.gz, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_daisy.zip, 2011.01.11-Kanye WestJay Z Duet Album Agreement_daisy.zip, 2012.05.04-Amendment recording agreement_daisy.zip, 2012.05.07-Amendment, including original recording agreement_daisy.zip, 2012.05.07-Profit Share Agreement_daisy.zip, 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West's Label Agreements_jp2.zip, Terms of Service (last updated 12/31/2014). Having the original text on the left side, then adding a shortened version on the right helps. Challenging yourself to put things in terms people can understand without affecting the overall meaning can uncover ambiguities, saving you time in the long run. So heres an amendment. So the rest, you know, if its not a one of those categories, its either an industry term of art or just normal English talking about finance or recording. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. Lets rewrite the deals to be understandable from first rate. Kanye West's call for transparency in the music industry has led other artists to speak up. The first is this one from LinkedIn. Musician Kanye West changed all that when he went to Twitter to complain about his many contracts with the recording industry. Within the deal, Kanye was obligated to release six albums, inaddition tohis initial effort, TheCollege Dropout(2004), within a 12-month span. Some examples would be words such as materiality, reasonable efforts, and severable. Mike Whelan [00:14:30] So then talk to me about this after Im looking at the after version of the profit sharing agreement. Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. In the event that Kanye's sixth album, Cruel Summer,exceeds 2.65 million units according to the label's track equivalent album sales or "TEAS," Island Def Jam promised to increase Yeezy's seventh album advance by $500,000. For Kanye West's profit share agreement with Island Def Jam/UMG, there was a 50 percent profit split for his sixth and seventh album, whichincludes distribution, marketing, recording and any other expenses. The before section has all the original wording, complete with legalese. Law Insider Completes First Legal Tech Investment and Distribution Partnership with Inkly, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. Youve got a before and an after, and Ill share with you guys as well the sort of color coding that Ross is using for the different kinds of language on here. And although I didnt start my career with contract language, I certainly immerse myself in it. The deal starts where he doesnt have as much clout, hell get mutual creative control, but later he gets more, and the deals get better as Kanye becomes Kanye, says Kinney, who has worked with platinum-selling artists, producers, and estates. Portals. We would like to show you a description here but the site won't allow us. After that point, UMG can distribute the albums on their own. Ross Guberman [00:07:15] So youre looking at a movement that started when those Capitol Hill hearings, but the tech companies were in the news. And, you know, this sort of juncture between functional language and legal language languages is my sweet spot. call Wests deal standard for an artist at his level. Watch to see how three transactions handled alternative dispute resolution options. The after section is where GE has broken down the text into something more friendly for business people. Its all made from events. "Today artists get just 12% of the money the industry makes. But if Kanye West 's statements last year about slavery being a choice were out of bounds, he's taking more of a Prince-like tactic in his ongoing efforts to extract himself from his record. Scooter Braun Projects is a talent management company that is more than just a company. Just minutes prior, he had finished tweeting out the entirety of his Universal contract, one page at a time for a total of more than 100 tweets. Well see you there. How do I nudge a contract toward plain language without undermining the agreement? Ross Guberman [00:20:11] Yeah, I think part of that is really bracketing off, just as you are saying, words and phrases that a lawyer knows have substantive value. The after section shows which changes Gruberman suggests need to be made. Capture a web page as it appears now for use as a trusted citation in the future. How that how how that would play out. I want you to do me a quick favor. If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. 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. Addeddate 2020-09-21 23:04:27 Identifier KanyeWestContracts Identifier-ark ark:/13960/t0jt91382 Ocr Join me and my friends. There are no reviews yet. Its an interesting thing. So I want you to do it, take advantage of it. In the weeks following its release, Donda surpassed a billion streams on Spotify globally. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. A pair of shoes designed and worn by the musician Kanye West have sold for $1.8m (1.3m) at auction - the highest amount ever paid for trainers. Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. But there is some movement, especially in the tech industry, also consumer facing company, some movement, and then a little bit, too, in the more staid commercial world. Maybe even my own lawyer is not really looking at the language from my point of view. I have a lot of free articles and a lot of these before and after is also on Twitter. 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. For example, LinkedIn has made some effort to provide easy-to-understand language. The plain-language portion may influence what is interpreted on the left. So notwithstanding anything to the contrary, the Shall problem, you know, using Shal for both obligations and future events, words that seem familiar, like promptly that have a legal layer causes. And the reason that it applies to us is this awesome tweet that all the lawyers got excited about, where he says the first thing that changes about record deals is actually lawyers. Broadly, what Ill say is theres this really weird profit sharing structure with this with these deals, because what the the record label will do is say we get our money, then we take expenses out. Found online, don't shoot the messenger. So, you know, theres a lot in contract language thats really just generic legaleese the same kinds of things you see in other documents. I wrote a book. Advances. Lets get back to the show. Obviously, we cant share the whole thing, but well make sure that you have a link to the whole thing in the show notes over at LawInsider.com/Resources. 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. The rapper has put out nine albums over 17 years through Roc-a-Fella Records. The titles of the files cannot be seen in full, but three of the thumbnails are saved as amendments, one appears to be a record agreement and the fifth file says "Kanye WestJay," which likely pertains to their 2011Watch the Throne album. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. Right. This method perhaps isnt as friendly to consumers as LinkedIns method, but its close enough to the source material and still understandable. 2. Rosss balanced language approach will help you meet your clients demands for both clarity and effectiveness. Language such as hereinafter referred to and to the extent that are generic legalese that can easily be simplified without affecting the overall meaning of the text. Ideally, he says, artists should have legal representation working in their best interest to point out red-flag clauses: While an artist should be wary of what theyre signing rather than looking solely at the immediate paycheck, young and starry-eyed artists whove never seen so much money may not understand that yet. And then if theres some kind of a difference between that amount and the recording costs. Whats the language that stands out to you as particularly harmful to the understanding of the parties, which is really what a contract is supposed to do, right? So its cut down on negotiation time and led to better, you know, better deals. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. Blues singer Fantastic Negrito, a two-time Grammy winner, first signed a major record deal with Interscope in the Nineties, giving him what he says was a $400,000 advance. Whats your background? Right. The 500 Greatest Songs of All Time Nirvana Vinyl Records. ET. Music or such label paying Island Def Jam Music Group acounterbalance amountagainst overhead payments in an amount equal to the overhead payments in the applicable contract year multiplied by a fraction. The outspoken music artist - who considered running. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. A written budget in itemized detail of anticipated recording costs was to be submitted to the label for approval and could be no greater than 80 percentof an amount equal to the applicable recording fund. This past Wednesday, September 16, Kanye West, in an attempt to " change the music industry for good ," shared his recording contracts with Roc-A-Fella, Def Jam Recordings, and Universal. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? He dumped them all on Twitter. Normally, its sort of reversed. Kanye was also prohibited from recording anew album prior to 90 days after delivering the effortto Roc-A-Fella. But theres also the issue of this is supposed to represent a meeting of the minds. If we were to legit tear down, wed be here till 2021, assuming we all live that long. Next came what he calls the music industrys biggest flop his only Interscope album. Are they making too much? Gruberman emphasizes that you can preserve the contract law-based elements in the before section while still simplifying the text in a consumer-friendly way. Another example is General Electric. The recording fund amounts for Yeezy's third through seventh albums were listed as follows:third album: minimum recording fund $300,000, maxing recording fund $650,000;fourth album: minimum recording fund $325,000, maxing recording fund $700,000;fifth album: minimum recording fund $400,000, maxing recording fund $850,000;sixth album: minimum recording fund $425,000, maxing recording fund $900,000;seventh album: minimum recording fund $450,000, maxing recording fund $950,000. While Anokute points the barrel primarily at the labels dishing out deals arguing that these deals perpetuate the very inequalities for black artists that the labels have said theyre looking to change he acknowledges that labels alone cant take all the blame for unfriendly artist deals. However, only 50 percent of video costscan berecouped from audio-only record royalties. 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