loader from loading.io

Episode 061: Chance the Rapper Sued: A Handshake Deal Case Study

Unspoken Terms

Release Date: 02/18/2021

Episode 063: Elevating Your Visual Brand with Bonnie Bakhtiari show art Episode 063: Elevating Your Visual Brand with Bonnie Bakhtiari

Unspoken Terms

Today’s episode is a gem-filled interview with Bonnie Bakhtiari of B is for Bonnie Design. Casey and Bonnie chat about everything from brand strategy to the common mistakes that Bonnie sees her clients make at the beginning of their business journeys.   Bonnie shares some of the roadblocks she has encountered, like imposter syndrome and the belief that success is in the hustle. She also shares some of the legal mishaps she’s had along the way and how not to miss out on your life while you're trying to build your business.   Whether you’re building a brand or maintaining one,...

info_outline
Episode 062: Successful Pivots & Podcasts with Ahyiana Angel show art Episode 062: Successful Pivots & Podcasts with Ahyiana Angel

Unspoken Terms

If you have a podcast or are interested in starting one, today’s episode is for you! Casey chats with Ahyiana Angel about all things podcasting and entrepreneurship. There are so many gems for business owners and anyone looking to transition from where there are to something that is fulfilling and in line with their purpose and passion.   Ahyiana shares cautionary anecdotes and lessons learned over the years. You don’t want to miss this conversation!   Subscribe | | |   Meet our Guest Ahyiana Angel is the Founder of Mayzie Media, a podcast production company, and host of...

info_outline
Episode 061: Chance the Rapper Sued: A Handshake Deal Case Study show art Episode 061: Chance the Rapper Sued: A Handshake Deal Case Study

Unspoken Terms

Casey is an entertainment and digital media law attorney who helps influencers and creative entrepreneurs who struggle with navigating the legal side of their businesses and brands, specifically as it relates to contracts. She prides herself on helping creatives negotiate fair deals with Fortune 500 companies and leading entertainment brands, all while helping them build legally sound businesses that are built for generational wealth and impact. Here on the podcast, she normally does that by sharing the stories of successful entrepreneurs and influencers to help you learn from their mistakes....

info_outline
Episode 060: Keeping Your Soul Enriched in Business with Genecia Alluora show art Episode 060: Keeping Your Soul Enriched in Business with Genecia Alluora

Unspoken Terms

Today’s episode is an enlightening conversation between Casey and Genecia Alluora! They talk about everything from humble beginnings to building international teams and managing it all while living the life you want.    They talk about the many transitions that Genecia has had along her entrepreneurial journey and all of the lessons she’s learned. As usual, they chat about the legal mishaps that Genecia has run into, to top off a very inspirational and empowering episode. You don’t want to miss this case study in knowing what you want any going after it, full force!  ...

info_outline
Episode 059: What You Need to Know Before Choosing a Lawyer show art Episode 059: What You Need to Know Before Choosing a Lawyer

Unspoken Terms

Casey is an entertainment and digital media law attorney who helps influencers and creative entrepreneurs who struggle with navigating the legal side of their businesses and brands, specifically as it relates to contracts. She prides herself on helping creatives negotiate fair deals with Fortune 500 companies and leading entertainment brands, all while helping them build legally sound businesses that are built for generational wealth and impact. Here on the podcast, she normally does that by sharing the stories of successful entrepreneurs and influencers to help you learn from their mistakes....

info_outline
Episode 058: This is Spinal Tap v. UMG Copyright Dispute - Understanding Copyright Termination Rights show art Episode 058: This is Spinal Tap v. UMG Copyright Dispute - Understanding Copyright Termination Rights

Unspoken Terms

Casey is an entertainment and digital media law attorney who helps influencers and creative entrepreneurs who struggle with navigating the legal side of their businesses and brands, specifically as it relates to contracts. She prides herself on helping creatives negotiate fair deals with Fortune 500 companies and leading entertainment brands, all while helping them build legally sound businesses that are built for generational wealth and impact. Here on the podcast, she normally does that through sharing the stories of successful entrepreneurs and influencers to help you learn from their...

info_outline
Episode 057: Building Business Legacy with Tiwa Works show art Episode 057: Building Business Legacy with Tiwa Works

Unspoken Terms

Today, Casey chats with serial entrepreneur and founder of the Atlanta Greek Picnic, Tiwa Works. They talk about everything from entrepreneurship and event planning, to real estate, investments, and government contracts, and the importance of networking in all of those spaces.   Listen in for how Tiwa has built several sustainable businesses since he was 16 years old and how he has been a successful serial entrepreneur. Tiwa shares how he has leveraged the opportunities that just came to him to propel himself to success. He also shares some of the biggest business lessons he’s learned...

info_outline
Episode 056: Jordan Gill on Scaling with VIP Days show art Episode 056: Jordan Gill on Scaling with VIP Days

Unspoken Terms

Today, Casey recaps an Instagram live that she did with Jordan Gill in November of 2020. Jordan shared some great insights into the power of VIP Days in service based business and how they can help to scale a business.    Jordan and Casey get into the ins and outs of this business model, scaling your business, and the legal side of this type of service. So, if you have been thinking about implementing this type of offering, you don’t want to miss this episode!   Subscribe   | | |   Meet our Guest   Jordan Gill, operations consultant and founder of Systems...

info_outline
Episode 055: The 12 Days of Christmas with Contract Casey show art Episode 055: The 12 Days of Christmas with Contract Casey

Unspoken Terms

Today’s episode highlights the 12 Days of Contracts series that Casey is doing on social media. She shares insights into the basic elements that every contract needs and defines some of the common terms in contracts.   Subscribe   | | |   Show Notes   [1:10] – Casey gives an overview her 12 Days of Contract Terms series.      [3:30] – Casey talks about what a contract is.   [5:00] – Casey gives some of the elements that need to be present to constitute a legally binding contract.   [9:43] – Casey explains breaches of contracts....

info_outline
Episode 054: Honest Abe and the importance of written contracts - An NDA case study show art Episode 054: Honest Abe and the importance of written contracts - An NDA case study

Unspoken Terms

Casey is an entertainment and digital media law attorney who helps influencers and creative entrepreneurs who struggle with navigating the legal side of their businesses and brands, specifically as it relates to contracts. She prides herself on helping creatives negotiate fair deals with Fortune 500 companies and leading entertainment brands, all while helping them build legally sound businesses that are built for generational wealth and impact. Here on the podcast, she normally does that through sharing the stories of successful entrepreneurs and influencers to help you learn from their...

info_outline
 
More Episodes

Casey is an entertainment and digital media law attorney who helps influencers and creative entrepreneurs who struggle with navigating the legal side of their businesses and brands, specifically as it relates to contracts. She prides herself on helping creatives negotiate fair deals with Fortune 500 companies and leading entertainment brands, all while helping them build legally sound businesses that are built for generational wealth and impact. Here on the podcast, she normally does that by sharing the stories of successful entrepreneurs and influencers to help you learn from their mistakes. But occasionally, like today, switches things up and highlights popular culture. 

 

Subscribe

Website | Apple | Stitcher | Spotify

 

Key Takeaways

 

  • Handshake deals and verbal agreements are a hard no. There are numerous public receipts that attest to this fact. There is just too much room for miscommunication and misunderstanding. Don’t do it!

 

  • Understand manager’s commission
    1. Commission percentage (10-20%)
    2. Commissionable income
    3. Post-term commission (sunset clause)

 

  • It’s important to stay in sync with your manager and the creative process. 

 

Show Notes

   

[0:38] – Casey opens the episode by saying, welcome back!

 

[3:45] – Casey introduces the Chance the Rapper dispute.

 

[4:25] – A brief background of the dispute:

 

Chance the Rapper and his former manager are feuding in a high-profile dispute over the manager’s April 2020 firing in the wake of the Chicago hip-hop star’s disappointing album and concert ticket sales.

In a lawsuit filed in Illinois on Nov. 30, 2020, Pat Corcoran, the former manager, is suing the rapper for a breach of contract, alleging he is owed millions in management commissions and unreimbursed expenses.

In a statement, the legal team for Chance the Rapper, whose real name is Chancelor Bennett, said that “Mr. Corcoran has been paid all of the commissions to which he is legally entitled” and that “most of the complaint consists of self-serving and fabricated allegations.” 

The dispute is a surprise for many in the music business because of how closely Mr. Bennett and Mr. Corcoran have worked over the past decade to build the 27-year-old rapper’s reputation as one of the most famous and successful independent artists.

 

Related Article: https://www.wsj.com/articles/chance-the-rapper-sued-by-former-manager-11607127219

 

[7:06] – Some specifics of this case:

 

  • One of the central claims of Corcoran’s lawsuit is this one: “In or around June 2013, Corcoran and Bennett entered into an oral agreement pursuant to which Bennett promised to pay Corcoran fifteen percent (15%) of the net profits on all revenues generated by CTR, Cool Pop Merch and CTR Touring in exchange for Corcoran’s management service.”
  • Corcoran says that he is still owed for a number of unpaid commissions across Chance’s businesses that in total amount to more than $3 million. 
  • Corcoran claims he should legally be paid a 15% net income post-term commission from Chance’s recorded music, merch, and touring for three years after the point the manager’s contract was terminated (on April 27, 2020).
  • Pat Corcoran also claims that Chance the Rapper fired him and replaced him with his father Ken and brother Taylor Bennett due to “fan disappointment in Bennett’s most recent album [The Big Day] and underwhelming fan support for its associated tour.” Corcoran and Chance’s relationship apparently began to fissure when Chance, in February 2019, announced a July release date for his debut album. Corcoran expressed serious concern with the projected release date Bennett had unilaterally announced for the album. Corcoran knew that in view of the commitments Bennett had in early 2019—including his own wedding—it was likely there was not enough time for the creative process that was involved in releasing an album, and Corcoran advised Bennett in that regard. Corcoran opposed announcing the release of any album before the recording or writing process even began, let alone was substantially completed. Compounding the issue, Bennett’s recording efforts were compromised by unproductive and undisciplined studio sessions. Procrastination and lackadaisical effort, perpetuated by various hangers-on uninterested in the hard work of writing and recording, resulted in a freestyle-driven product of sub-par quality, a complete deviation from the meticulous writing process that brought Bennett fame for his wordplay and wit. Instead of acknowledging the numerous distractions and artistic compromises that inevitably resulted from the time wasted in the studio, all of which contributed to a lackluster album evidenced by historically low ticket sales, Bennett ultimately blamed Corcoran for the judgment rendered by his fan base rather than accept that his own lack of dedication had doomed the project.
  • Corcoran says he recommended Chance “step away from the public and regroup” instead of performing on Ellen, Good Morning America, and The Late Show With Stephen Colbert. Corcoran claims that the TV appearances “only forced Bennett to publicly address his album’s shortcomings, rather than generate excitement about a newly-released album, which is what such appearances are calculated to do. These appearances served only to further exacerbate the failure of The Big Day.” 

Related Article: https://pitchfork.com/news/chance-the-rapper-ex-manager-sues-for-millions-trashes-the-big-day/

 

[12:20] – Key Takeaways

 

  • Handshake deals and verbal agreements are a hard no. 
  • Understand your manager’s commission
  • It’s important to stay in sync with your manager and the creative process. 

 

Resources:

Check out my contract templates

Join My Newsletter Email List

Clubhouse: @contractcasey

 

Subscribe

Website | Apple | Stitcher | Spotify