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Monday, April 25, 2016

The artist formerly known as Prince, a legal remembrance.

Prince & Contract Law

Prince at one point changed his name to an unrecognizable symbol.  Why would an artist at the peak of their career change there and tank there career.   Prince did this because he hated the contract he had with Warner Brothers. Warner Brothers owned the rights to some of his most famous works ie "Purple Rain."  Prince claimed that they owned his name and all of his product.
Legal negotiations between Prince's lawyers and Warner Brothers began falling apart displaying that Prince would not be able to get out of his multi album deal so he began appearing with the word "slave" written on his face.  Prince then decided to fulfill his deal, but not to the pleasure of Warner Brothers.  He released multiple albums in rapid succession and changed his name to an unrecognizable symbol.  Albums were produced, but sales of these albums were at an all time low.  

only last year did prince come to a settlement with Warner Brothers for a 30th anniversary of some of his first albums.  What is the moral of this story, all sides lose when they cannot renegotiate a contract.

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