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THE BOYZ leaves IST Entertainment; New agency ONE HUNDRED issues statement for dispute over trademark rights of group name
THE BOYZ has officially parted ways with IST Entertainment. However, they are now embroiled in a dispute with the agency over trademark rights of their group's name.
IST Entertainment officially announced that THE BOYZ members have terminated their contracts as of December 5. Previously, their new agency, ONE HUNDRED, revealed that despite much effort, they were unable to secure the trademark rights to keep using the same name for the group. However, later, IST Entertainment claimed that they had granted free usage rights to the members. Their new agency has refuted the claims.
On December 5, THE BOYZ officially parted ways with IS Entertainment. This morning, the agency stated, "We regret the recent misinformation regarding the trademark and would like to correct this, indicting to ONE HUNDRED's previous statement that they failed to secure the rights of the group's name after negotiation fell through.
"Contrary to what has been reported, we have already decided to provide all 11 members of THE BOYZ with the right to use the trademark free of charge and have already conveyed this to the members," IST Entertainment stated, saying that the group can use the same name for free for any activities.
However, they clarified that this permission was given exclusively to the members and not their new agency.
On the other hand, ONE HUNDRED, the new agency THE BOYZ signed with, has a completely different thing to say. Following IST Entertainment's statement on the morning of December 5, the agency revealed a new update. They stated that IST Entertainment's claims of giving free usage rights of the name to the members are false.
"If IST Entertainment had indeed granted free usage rights to The Boyz as the agency asserted, we would have ensured that the trademark usage rights, which rightfully belong to the artists, were protected throughout their contract period for the sake of the artists and their fans, The Bs," ONE HUNDRED said.
They further claimed that IST Entertainment's agreement proposal contains three conditions, two of which appear disadvantageous for THE BOYZ members. The group's new agency further clarified that the proposed conditions stated that IST Entertainment would offer the members usage rights but not ownership of the name.
This contradicts IST Entertainment's previous statement. Fans are now eagerly waiting for the final update on whether the members will be able to use the name THE BOYZ.
ALSO READ: THE BOYZ lose its trademark to group name after failed negotiations with IST Entertainment
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