13 meeting, where the board expansion passed with four shareholder votes, “blindsided” Schon and Cain, the lawsuit said. The notices said the meeting in two weeks would include votes to expand the board from Cain, Schon and Valory to all six shareholders and elect officers. The dispute began when Valory and Smith expressed a desire to retire and allegedly forged Cain’s electronic signature on notices of a shareholder meeting. According to the complaint, it has six equal shareholders: Schon, Cain, Smith, Valory, former vocalist Steve Perry and former band manager Walter Herbert.
Journey songs license#
The trademark tug-of-war could hinge on the care taken to craft decades-old contracts, including whether all rights owners signed off on a perpetual license to use the band’s name royalty-free.Īn entity called Nightmare Productions Inc. The two want California Superior Court declarations that they have exclusive, perpetual rights to the trademark and at least $10 million in damages for breach of fiduciary by bassist Ross Valory and drummer Steve Smith, according to the March 3 complaint. Journey co-founder and guitarist Neal Schon and keyboardist Jonathan Cain claim two band members orchestrated a “coup” to take control of the Journey trademark and extract millions in royalty payments. “It’s just that within the music industry, especially, the name is so central to the continued success of the band and so important that, inevitably, if there’s going to be a dispute, it’s going to be a big fight.” “I would imagine that lots of small businesses, say a bakery, would have the same issue,” trademark attorney David Bell of Haynes and Boone LLP said. The squabble offers lessons on the importance of forming companies with clear governance structures and clearly assigning intellectual property rights-lessons that don’t just apply to music, attorneys say. The dispute is complicated by an allegedly fraudulent corporate takeover and an unusual structure of entities owning and operating the trademark on the band’s name. Millions are at stake for the classic lineup of Journey, whose 1981 hit “Don’t Stop Believin’” is the most downloaded song from the 20th century. IHeartMedia is the exclusive podcast partner of Pushkin Industries.The trademark feud embroiling the rock band Journey is in many ways a familiar story of bands struggling to untangle valuable rights when they split or disagree, spurred by big egos and even bigger piles of money. To hear all of season 3 early, ad-free, subscribe to Pushkin+ in Apple Podcasts or at pushkin.fm/plus. Season one, The Drug Wars, tells the story of an FBI agent who goes undercover with a biker gang, and follows a trail of clues that eventually leads to the US invasion of a foreign country.ĭeep Cover drops on Mondays. Season two, Mob Land, is about a high-rolling lawyer who joins forces with the feds to try to bring down one of the most powerful criminal syndicates in the country. Seven years later, their stories collided when a small town detective got a tip and became convinced that if he could solve one mystery, he'd solve the other. Season three, Never Seen Again, tells the story of two women, living on opposite sides of the country, who went missing in the summer of 1999. Pulitzer Prize-winning journalist Jake Halpern reveals webs of deception and dark underworlds, through interviews with federal agents and convicted criminals. Deep Cover is a show about people who lead double lives.
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