OK SO BOOM
Rudolph has sued Ronald Isley for getting a trademark without his permission for THE ISLEY BROTHERS®
Rudolph and Ronald co-founded the Isley Brothers with their late brother, O’Kelly, in 1954.
Rudolph’s suit claims that “at all times” the band operated as a “common-law partnership,” sharing expenses, profits, and control of the band’s business.
Chil’ these folks didn’t have a partnership agreement…just a handshake and hug agreement.
Anywho… Rudolph claims that for decades, he and Ronald evenly split the profits – including multimillion dollar publishing arrangements – prior to recent developments.
Rudolph has demanded the judge audit Ronald’s earnings and reimburse him for half of the amount.
He is also requesting the judge reinstate his 50% share in the group’s earnings.
Rudolph is essentially saying…
Trademarks are POWERFUL brand assets. Registering them is like giving your brand an insurance policy that gives you the EXCLUSIVE ability to enter business deals. Without ownership Rudolph is potentially cut out of millions in licensing deals.
As you can see here…Ronald Isley is listed as the ONLY owner of the registered trademark.
Mr Biggs hasn’t responded yet, but I’m sure when he got the papers he reacted like this…
With families and friends going into business together it is ESSENTIAL to get your legal matters drafted in a contractual agreement.
Handshakes & Hugs are no longer honored and everyone’s memories start to get fuzzy as time passes.