What can Kanye West teach you about Intellectual Property?
A couple of key lessons in October 2022 apparently:
1. When signing a long term business deal with a partner make sure to clearly outline who will own the intellectual property after the relationship ends:
In October Adidas broke up with Kanye terminating a multi $bn shoe partnership ……the Adidas lawyers made sure they were clear who owned the collaboration Intellectual Property in advance ……..“Adidas is the sole owner of all design rights to existing products as well as previous and new colorways under the partnership.”
2. Controversially Kanye then decided to wear a T-Shirt emblazoned with ‘White Lives Matter’ causing the press to claim ‘infringement’ as the trademark for this strapline was already ‘registered’.
The real facts are that there was a trademark application made on October 3rd, 2022 for White Lives Matters, but it is not registered and is probably unlikely to be so because of its widespread previous usage
Business Intellectual Property is very important for profit. Make sure you get the facts right in all cases.
Exalt IP experts in Business Intellectual Property.
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