: Looks like Jay Z may be on the verge of his 100th problem. MediaTakeOut.com has learned that he and his company Rocawear may he on the verge of a multi-million dollar lawsuit.
For months now, Rocawear has been engaged in a successful I Will Not Lose ad campaign. The problem is there's an Atlanta company called I Will Not Lose that already sells urban sportswear.
And according to official legal documents obtained by MediaTakeOut.com, Jay Z and Rocawear were repeatedly served with notice that the I Will Not Lose campaign infringed on the Atlanta company's trademark. But Rocawear continues the campaign - without even so much as responding to the company's notices.
This decision has dumbfounded the CEO of I Will Not Lose, Atlanta businessman Reggie Tucker. He reached out to MediaTakeOut.com saying, "We want to bring attention to this wrong doing."
Developing...
tHIS iS bS... jAY iS nOT a dUMB bUSINESS mAN,iF hE waS sERVED wITH aNYTHING lIKE tHAT iT weNT tO jAYS aTTORNEY, iF hIS atTY dIDN'T sUGGEST tHAT he cUT tHE aDDS tHEN iTS bECAUSE tHERE iSN'T aNYTHING iLLEGAL aBOUT iT....tHERE'S nO cASE hERE
aND fUTHERMORE tHIS sMALL cOMPANY iN aTL cAN'T hAVE eXPECTED eveRY oTHER cOMPANY iN tHE wORLD tO kNOW tHEM...qUIT pLAYING
Jay-Z doesn't own Rocawear anymore.
Now that he has sold off all of the business ventures that he-along with others created-I wonder what's his next move? Now we can see if he really is a savvy businessman, or just another b!tch in a suit, who was in the right place at the right time to capitalize on others' hard work.
I don't like the way he did Dame with the clothing & music deals, but that's their vybe, yet he took all the credit. So now let's see if he earns this title that everyone has been showering him with-'mogul'.
MTO BE ON JAY DICK TO MUCH. YOU CANT HAVE FRIENDS IN THE MIDDLE OF BUSINESS, AND JAY HAS TO DO WHATS BEST FOR HIM AT THE END OF THE DAY. NIGG*S DONT WANT TO BE DOING THE SAME [EXPLETIVE] FOREVER, THEY STILL WAS IN THEIR OWN ZONE, WHILE JAY WANTED MORE [EXPLETIVE]. SO STOP HATIN ON HIM AND HIS CHICK. GET A [EXPLETIVE] LIFE!!!!
~~~~~~~~~~~~~~~~~~BREAKING NEWS~~~~~~~~~~~~~:
The whole staff over at Sony/ Columbia's Urban Dept. got let go recently and you probably know that if you are up on your industry news. Well, I cannot be 100% sure, but I heard those people were let go so that Jay-Z could bring his own staff into Columbia. This is what is coming out of the walls of Sony/Columbia, not Def Jam. ------------------------------------------------- how come MTO hasn't reported this story yet?
Well let's see, if Jigga had never said "I will not lose on his record, would the company in ATL have used that saying? I doubt it. Were they smarter than Roca-wear for having the phrase trade marked? Yes they were. Jigga has great lawyers so they will probably not get hit for much, if any. Who wears I Will Not Lose clothing, or Roca-wear for that matter?
In March of 2007, Jay-Z sold the rights to the Rocawear brand to Iconix Brand Group, for $204 million. Jay-Z will retain his stake in the company and will continue to oversee the marketing, licensing and product development.
Rocawear has a 2007 campaign called "I Will Not Lose". It features recording artists such as Ciara, Chris Brown, Three 6 Mafia, and Rich Boy.
Jay sold Rocawear to Iconix, but he's still the force behind everything Rocawear - they're just handling distribution. Jay sold it at the right time and made the distribution a larger company's problem. Smart move. Jay along with Iconix also purchased Artful Dodger - another smart move.
ON ANOTHER NOTE, HOW COME YOU DIDN'T POST THE CORRECTION INSTEAD OF REMOVING THE POST YOU LIED ABOUT BEYONCE SHOWING HER CROTCH?
IT WAS PHOTOSHOPPED BY A YOUNG KID AND MTO FELL FOR IT AND HAD THE NERVE TO PUT IT AS AN EXCLUSIVE.
THIS SITE IS SO NON-CREDIBLE, YOU NEW LAYOUT IS EVEN WHACK.
Usually when a part of an entity, or company in whole, is sold there is a legal contract that holds the original owner liable for any suits or claims brought against said company for a certain time frame. In corporate America it's usually 3 years. It is then phased out to being partly responsible and therefore responsible for only 1/2 the defense cost and 1/2 of any subsequent judgement against the company. So, yes Jay may still be liable, if in fact, this clause was a part of the sell. However, if this campaign conception and implementation occurred after the sell and Jay had nothing to do with it... the new owner/owners are solely responsible and he has no concern. IT IS ALSO STANDARD PRACTICE TO ANSWER ALL SUBPOENAS INFORMING THE PLAINTIFF WHERE AND TO WHOM THEY MUST DIRECT THEIR COMPLAINT. You just can't IGNORE a subpoena, VERY UNPROFESSIONAL to say the least.
Jay-Z has sold his Rocawear clothing empire. It was announced this morning that the Iconix Brand Group, Inc. has entered into a "definitive agreement to purchase the brand Rocawear" for $204 million in cash with contingent payments of an additional $35 million of Iconix stock -- based upon performance thresholds over the next three to five years. Rocawear, which is recognized as a leading lifestyle apparel brand, reportedly has retail sales of over $700 million, annually.
The line was founded by the hip-hop icon turned Def Jam Records president, and his former Roc-A-Fella Records partners Damon Dash and Kareem "Biggs' Burke in 1995. Jay-Z (legally known as Shawn Carter) will remain an integral part in the Rocawear -- heading up all product development, marketing and licensing for the brand. The statement indicates that: "he will retain his stake in the operating company that manufactures all of the Rocawear men's apparel and his two partners in that business, Alex Bize and Norton Cher, will continue to run that company and enter into a long-term license agreement with Iconix for the core young men's apparel category." As part of the new deal, Iconix will also enter into a separate equal joint venture with Shawn Carter to establish a new brand management and licensing company that will identify brands -- the first brand will be the luxury brand called "Shawn Carter Collection" set to debut in 2008. "Iconix is pioneering a new brand management model and by combining Rocawear with their platform, my team and I can focus on our strengths in design and lifestyle marketing." Jay-Z said. "I'm also looking forward to working with Neil Cole and the Iconix organization on other brand development opportunities." Iconix, a publicly traded New York based company, owns, licenses and markets a growing portfolio of consumer brands including Candies, Bongo, Badgley Mischka, Joe Boxer, Rampage, Mudd, London Gof, Mossimo and Ocean Pacific.
Rocawear, the trademark - or brand name - was sold along with it's licensed products (essentially everything besides the men's line). Jay is still a part owner of "Roc Apparel Group," which still designs and produces the men's collection. Basically, Roc Apparel is now a licensee of the brand it built almost 9 years ago. Iconix owns the name, so if in 5 years time Roc Apparel isn't handling business, Iconix can up and move the whole men's design & production function to a totally separate company.
Point is, Jay still has a firm stake in the future of Rocawear. BUT, since the marketing arm of the business isu nder Iconix now, shouldn't they have been the ones to respond to the law suit?
Yes, they SHOULD be the ones to respond to the complaint, however, they MUST be aware of it. What if Iconix don't read MTO (lol)... how would they know of such a complaint being filed if Jay didn't forward them the information?
I work in the legal department of a company that went public and eventually sold a division of the company. We can't just ASSUME everyone is aware of this just because it was on the news and it's been 5 years since the sell. Our department specifically handles lawsuits brought against the "sold" division. We receive, on average, 20 subpoenas, complaints, IRS levies and liens daily. As such, a "form letter" was necessary explaining the sell, when it took place, and to whom any correspondence should be directed. I also forward each legal document, individually, to the "new" company, along with a carbon copy of the "form letter" sent to the plaintiff's attorneys. Class Action suits are handled differently because there's a potential to lose BILLIONS in a judgement against the company. I'm not sure if there's some type of legal ramification for not informing the "new" company of any potential or actual suits brought against them that "we" are aware of, can't speak on what I don't know. But I will ask today and post the response here.
What I do know is... you MUST RESPOND TO A SUBPOEANA OR RISK HAVING A WARRANT PUT OUT FOR YOUR ARREST.
I'm mad I'm mentally invested in an MTO "exclusive"... but fuk it... why not share what I know.
