TLC's Bad Business Contract
Let me tell you something you might not know about the best selling girls’ musical group of all time, TLC.
Let’s look at the contract the Band signed with their manager. They trusted her. They did not ask questions – they just signed.
They signed at a very young age.
They signed a very one sided contract which favored their manager.
They gave away ownership of their name, TLC to their manager.
They gave away a grossly unfair percentage of their earnings to this manager.
They used the same attorney as their manager.
Suddenly, the group was making a great deal of money but not getting to keep much of it at all for their labors.
They left their manager but wound up paying three million dollars in order to keep their TLC name.
You sign business contracts also.
The situation for TLC was quite unique because of their youth and startup nature. 1. Your situation is unique also.
2. You need to ask a lot of questions.
3. Your attorney needs to ask a lot of questions, also.
4. Get the help you need BEFORE you sign a business contract.
My job is to protect my clients.
Call me.
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