IST Entertainment has expressed its position regarding the trademark conflict with One Hundred.
On the 4th, IST Entertainment stated in an official position, "We express our regret over the clearly misinformed content regarding the trademark rights and wish to correct it."
IST Entertainment refuted, "Contrary to what has been reported, we decided to grant the right to use the trademark for free to all 11 members of The Boyz and have already communicated this intention to the members. Additionally, we aimed to allow the 11 members to use the trademark for free in any activities they agree on (unit and individual activities, etc.)."
Furthermore, they emphasized, "Our decision to provide the trademark free use rights to the members, who are the 'subject of the team,' rather than to a new agency, was made out of our consideration for deeper and smoother interactions and active activities between the members and fans in the future," adding, "The reports stating that we demanded excessive trademark fees and that we made demands beyond the usual level to the new company are also untrue."
IST Entertainment added, "Although our relationship with The Boyz is regrettably coming to an end, we promise to support them so that there will be no discomfort in their future activities, and we sincerely wish them well in their future endeavors."
Earlier that day, The Boyz's new agency, One Hundred, stated, "The artists can no longer accept the unreasonable negotiation conditions from IST Entertainment regarding the trademark rights they have maintained for seven years," expressing "deep regret" towards IST Entertainment.
Meanwhile, the contract between The Boyz and IST Entertainment will expire on December 5. After that, The Boyz will be active as artists under One Hundred.
Below is the full statement from IST Entertainment
Hello.
This is IST (IST Entertainment).
We express our regret over the clearly misinformed content regarding the trademark rights and wish to correct it.
Contrary to what has been reported, we decided to grant the right to use the trademark for free to all 11 members of The Boyz and have already communicated this intention to the members.
Additionally, we aimed to allow the 11 members to use the trademark for free in any activities they agree on (unit and individual activities, etc.).
Furthermore, regarding one member who still has about six months left on their exclusive contract, we have decided to terminate the contract early, regardless of the remaining contract period, in support of their activities at the new agency, and we have already communicated this intention to the member.
Our decision to provide the trademark free use rights to the members, who are the 'subject of the team,' rather than to a new agency, was made out of our consideration for deeper and smoother interactions and active activities between the members and fans in the future.
We believe that providing the free use rights to the 'member parties' is more appropriate in supporting the continuity of The Boyz, a team loved by many, and facilitating barrier-free meetings with fans.
The reports stating that we demanded excessive trademark fees and that we made demands beyond the usual level to the new company are also untrue. We were actually in a position to wait for various proposals regarding the trademark rights with an open attitude, and we only exchanged some general and conventional discussions for a smooth handover.
Although our relationship with The Boyz is regrettably coming to an end, we promise to support them so that there will be no discomfort in their future activities, and we sincerely wish them well in their future endeavors.
[Lee Da-kyum, Star Today Reporter]
