Podcast

 

UNSPOKEN TERMS

 

Tune in to the Unspoken Terms podcast to hear the not so often publicized stories of successful influencers and creatives who have experienced setbacks in their careers due to the (often unspoken) terms of pivotal contracts.  Learn how they’ve overcome, and how you can avoid the same pitfalls as you build and grow your brand and influence.

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


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. 

 

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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

 

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Check out this episode!

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


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!

 

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Meet our Guest

Genecia Alluora is former Miss Singapore and Southeast Asia Woman of Excellence 2010. She is the Founder of Soul Rich Woman, the #1 female entrepreneur network in Southeast Asia that connects more than 200,000 women across the region, including Singapore, Malaysia, the Philippines, Vietnam, and Indonesia. With the Soul Rich Woman Blueprint, she has coached and mentored thousands of women to bring their business and leadership online. Her goal is for women to own and love the F-word: Being Fabulous, Having Freedom, Financial Independence, and Family. She is also the host for 2 podcasts “For Women Who Love The F Word” with listeners in 131 countries and a daily 10 minutes marketing podcast “Soul Why”.

 

Before establishing Soul Rich Woman, Genecia was an owner of a cafe retail chain with a presence in 3 countries with 18 franchisees and licensees that successfully exited to a public listed company after 4 years. 

 

Connect with Genecia

Instagram

Facebook

Website

LinkedIn

Pinterest

 

Show Notes

 

[3:56] – The interview starts with Genecia introducing herself.

    

[5:02] – Casey asks Genecia how she manages all of the hats she wears.

 

[8:10] – Genecia talks about how she got started in entrepreneurship.

 

[12:06] – Casey asks Genecia about her interesting start in entrepreneurship as the youngest line dancing instructor in Singapore.

 

[14:36] – Genecia talks about her transition from healthcare to Miss Singapore and being an entrepreneur.

 

[20:50] – Casey asks Genecia to share some common mistakes she sees entrepreneurs making when they first start.

 

[24:24] – Genecia talks about difficulties that entrepreneurs have with finding their niche and focusing on that niche.

 

[27:40] – Casey asks Genecia what systems she uses to keep her international team on track.

 

[32:06] – Genecia shares some of the legal issues she has run into in her journey as an entrepreneur.

 

[36:12] – Casey asks Genecia if she’s had to shift her business to survive during the global pandemic.

 

[38:38] – Genecia shares some last tips and resources for entrepreneurs.

 

Resources mentioned during this episode:

Get Genecia’s Free Book

Free Delegation Workbook

For Women Who Love the F Word Podcast

 

Meet our Host

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

Check out this episode!