From Josh and Mikeís (J&M) point of view, it may look something like this: The best friend of my father approaches me and offers me the Kingston Trio. I pay up and we sign a License agreement for exclusive use of the Kingston Trio name in August of 2016; effective date for the switch is August 2017. It helps him (as the seller) and I fulfill a lifetime dream.
I take my life in a new direction and prepare to take over; I quit my job; practice; spend money getting ready; raise money from associates; etc. Apparently, the Shanes (KT LLC) had a change of heart, because the lawsuit refers to ďÖtheir attempt to renegotiate after the fact,Ē but it is too late for me to turn back. After a lengthy arbitration process, I have to sue.
So thatís J&Mís side. Now it isnít certain that there was an attempt to renegotiate. Perhaps the agreement wasnít clear that J&M had an exclusive right to the name. That could have been the source of contention that led to arbitration. However; if it was the issue, it should have been resolved relatively quickly. Further, a non-exclusive right wouldnít make much sense since it wouldnít work financially. (There was discussion on Crossroads that even an exclusive use of the name wonít payoff for J&M, but thatís a different story.)
As I wrote before, my guess is that KT LLC was trying to renegotiate the exclusive right to the name so KT LLC could retain GBR and that is why GBR werenít informed. (We donít really know so this part is conjecture.)
On the surface though, it appears that Kingston Trio LLC effectively dropped GBR when they made the lease with J&M to take over the name. If they didnít make an exclusive lease why was the court case settled? If it wasnít an exclusive lease GBR would still be performing. It just seems to me that J&M acted in a reasonable manor to protect the rights for which they paid.
Do I like it? Of course not. It looks like a disaster for Kingston Trio fans. I am just not angry about it, because I donít know which party should receive my anger.
: Precisely, Brooks. We have the allegations in
: the Reynolds/Marvin complaint, but we don't
: know, and probably never can know, if they
: were true, half-true, or untrue.
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