On December 4, IST Entertainment addressed allegations regarding the trademark rights of THE BOYZ, clarifying that all 11 members were granted free usage rights for any group, unit, or individual activities.
The company also terminated one member’s contract early to support his transition to a new agency. IST denied claims of demanding excessive fees or making unreasonable demands, emphasizing its openness to proposals and focus on a smooth transition.
ONEHUNDRED, THE BOYZ’s new agency, had previously stated that IST’s negotiation conditions hindered the group from retaining their trademark, but reaffirmed their commitment to the group’s future under a new brand name.
THE BOYZ will officially start fresh under ONEHUNDRED, led by MC Mong, after their IST contract ends on December 5.
Full Statement from IST Entertainment:
Hello, this is IST Entertainment.
We regret the spread of inaccurate information regarding the trademark and aim to clarify the matter.
Contrary to what has been reported, we decided to grant all 11 members of THE BOYZ the right to use the trademark for free and have already communicated this to the members. Furthermore, the trademark can be used freely for any activities, including unit or individual projects, as agreed upon by all 11 members.
Additionally, we agreed to terminate the exclusive contract early for one member, whose contract still had six months remaining, to support his new agency activities and have already informed the member of this decision.
Our intention to grant the free trademark usage rights to the members themselves, rather than a new agency, was based on our consideration for the team’s longevity and the smooth interaction between the members and their fans.
We believed that providing free usage rights directly to the “members themselves” was the best decision to support the future of THE BOYZ, a team deeply loved by the public, and to ensure unhindered connections with their fans.
Reports claiming that we demanded excessive fees for the trademark or made unreasonable demands to the new company are also untrue. On the contrary, we have remained open to various proposals regarding the trademark and have only engaged in preliminary and standard discussions to ensure a smooth transition.
Although our time with THE BOYZ has come to an end, we promise to support their future activities and sincerely cheer for their continued success.
Source: Daum
