IST Entertainment Grants The Boyz Rights to Use Their Group Name Free of Charge
Conflict Resolved For The Boyz
On December 4, it was reported by a media source that negotiations between OneHundred Entertainment, The Boyz 's new agency, and their former agency, IST Entertainment , regarding the trademark rights to the group's name had broken down.
Initial reports indicated that IST had demanded tens of billions of KRW for the trademark rights. When OneHundred refused to accept these financial terms, IST reportedly proposed additional restrictive terms, limiting The Boyz's musical activities. These demands were deemed unacceptable by OneHundred, and negotiations fell through.
Despite the setback, OneHundred Entertainment announced plans to continue under alternate names such as " The Boys " or " The New Boyz ." However, IST Entertainment clarified on the same day that they had granted The Boyz the right to use the group's name. The agency stated, " We regret the recent misinformation regarding the trademark rights and would like to clarify the facts. Contrary to reports, we have decided to grant the rights to the trademark 'The Boyz' to all 11 members of the group for free and this decision has already been communicated to them. "
The agency added, " Furthermore, we intend to allow free use of the brand for any activity agreed upon by all 11 members, including individual or unit activities. " IST Entertainment also revealed that they have decided to terminate the contracts of the members whose contracts have not yet expired. " For the member who still has approximately six months of exclusive contract, we have expressed our intention to terminate the contract early, regardless of the remaining term, to support his activities under his new agency ."
Here is IST Entertainment's full statement: " Hello, this is IST ENTERTAINMENT. We regret the recent misinformation regarding trademark rights and would like to clarify the facts. Contrary to what has been reported, we have decided to provide the rights to the trademark 'The Boyz' to all members of the group free of charge. Furthermore, we intend to allow free use of the trademark for any activity agreed upon by all members. We have also expressed our intention to terminate the remaining member's contract early to support his activities under his new agency. We believe that giving the rights directly to the members is the best way to support the longevity of the group and ensure continued interaction with their fans. "
Fans have expressed their frustration on online forums, criticizing the new agency's media manipulation and thanking IST for its transparent and generous handling of the rights transfer.
Dejar un comentario