It has been interesting to watch the ongoing and impending legal drama between Jaywon and Kennis music. Jaywon signed a contract with Kennis Music some years back and apparently he has been unhappy for a little while now. One minute we hear he is leaving. The next minute he denies it because Kennis music, it appears, calls on industry contacts to make sure they do not interfere with the Jaywon and Kennis contract, which essentially ensures Jaywon’s success would be seriously hindered if he leaves. They really do have Jaywon’s back against the wall. Jaywon has finally lawyered up.
This time, Kennis Music obviously threatened that their artist may in fact be leaving them, since he lawyered up, on their own initiative, released a press statement where they tell us he is in fact lawyered up, he in fact wants to leave and he has asked, through his lawyer, to terminate the contract and pay off whatever is owed to the label. Sounds quite reasonable and a show of good faith on Jaywon’s part, doesn’t it?
However, this is a bit tricky.
In a buy out situation, usually the label is paying the artist etc. one lump sum of money and then obtaining all of the intellectual property rights to that music to use indefinitely, for free. What happens if the artist is the one saying, hey, you can buy out all of my music and use it indefinitely. Just let me go?
Certain questions begin coming up, from a different angle. Questions like, how exactly do you value these intangible assets? It is not as straight forward as it may seem and can be quite complex because that entire catalog of Jaywon music may become meaningless in terms of value for the label by virtue of Jaywon walking away.
This case may have to be one where Jaywon files a declaratory judgment through the court system and asks the court to declare that he does not owe Kennis Music anything. This can then put the dispute in front of the court so that ultimately, there is finality and a severance of this relationship. In short, it may be tough to avoid litigation if the parties continue the way they are.
Have a great weekend. I will catch you all soon.
“Iledare Oluwajuwonlo James aka Jaywon has written a letter via his lawyer requesting for his contract with Kennis Music to be terminated.
JAYWON wrote, in the same letter, his readiness and willingness to pay off all costs therein accordingly.
Meanwhile, Independent Broadcasters Association of Nigeria IBAN MEMBERS and all broadcasters on all platforms are hereby advised to Un-list the works (Either single performances or and collaborations) of Iledare Oluwajuwonlo James aka Jaywon from their respective rotational play lists until his (Jaywon) request to buy over his contract is fully completed to avoid litigation.
Public Affairs Unit
cc. Broadcasting Organisations of Nigeria (BON)