Lawyers and legalese may not be top of mind when collecting memorabilia from your favorite sports or music pop-culture figure, but the reality is that some deals you hear about are influenced – or even determined – by what’s in the legalese. Sometimes this is to the benefit of the buyer, sometimes the seller. As you continue to build your collection, it’s important to know the rules-they might actually affect the value of your latest purchase.
Ever seen the phrase this type of legal clause in a contract before? In a sports context, it would be included in a biography of a former athlete, for instance, or in the book deal of a notable public figure. What it means is that the author has agreed to cover the attorney’s fees of either side to a dispute in regard to the book that was written and any legal issues that result from it. If the author has to defend their work, they aren’t responsible for the cost – the publisher is. The same can go for any involved agents or other parties. This kind of contract can usually be found in the contracts of well-known musicians and other celebrities.
In the world of sports memorabilia, this is particularly important if you’re the person who acquires a piece of memorabilia that has also been fought over in court. A recent case dealt with a dispute over the estate of Kobe Bryant between widow Vanessa and Bryant’s parents. Who is ultimately responsible for defending what they feel is fair use? Does the legal fees clause in the estate matter or is this one of those cases in which she’s now responsible for the legal fees of Joe and Pam Bryant? When you’re looking at an auction, you should always check to see if the item has previously been displayed in a museum exhibit or showcased in a documentary film. If those are the cases, it’s a good bet that it is a critical piece with no prior legal disputes.
For fans of other kinds of pop culture, consideration should be given to the legalese in the contracts of their favorite celebrities and how those contracts are drawn up. For instance, one recent contract dispute in pop culture history had to do with a Dave Chappelle lawsuit over Chappelle’s Show Season 3 DVD royalties. He sued Viacom, who owned Comedy Central. The network eventually settled and paid him a large amount, basically describing the action as a “misunderstanding.” A quick review can reveal what type of legalese was contained within the contract and if it was fair to both parties, although since he made a claim, it clearly wasn’t. Incidentally, the DVD was produced for the public by Viacom and ABC, similar to how memorabilia might be shown at a museum.
Keep in mind that the details about any given contract may never be made public, and that’s where collectors come in. If you know the right person to talk to, you can get snippets of information that could help you make better purchasing decisions. The Devil Wears Prada, for instance, was based on a book-and the book deal that preceded it, which later became a film. Rumor has it that the book’s author was actually going to get away with it – her original contract included a legalese clause that granted her the right of first refusal. She was able to buy back the rights to the book for a fairly low fee. So you have to wonder, what did the lawyers write, and how did it affect the value of the book?