Prince vs Warner Brothers
Negotiation and Deal Making
March 27, 2011
In today society different companies go through various contracts on a day to day basis; however, it is solely up to both companies or parties to ensure that the contract upon entering is in good standing and there after remains in good binding, As in the case of Prince Vs Warner Brothers. In the beginning it seems as though the contract was acceptable for both parties, however as the discrepancies unfold, it became clear that the contract was no longer valid. This created a huge problem for both parties. It has been observed that the dispute between Prince and Warner Brothers was about money and how often …show more content…
Position of Parties
During the dispute between Warner Brothers, Prince won the support of his fans as well as other artists. He had several successful tours; the musicology tour is one of the most successful tours up to date. Clearly, Prince has become an icon and he was in a position where he did not need the record label to make money. He proved that he had the ability to sale records and the ability to promote tours without the help of Warner Brothers. Warner Brothers may have played apart in his success, but as Prince’s career blossomed, he realized that Warner Brothers were no longer necessary. So his actions were attempts to end the relationship between himself and Warner Brothers.
What went well?
Fortunately for Prince, the label recognized his desire to end the contract and that he was no longer going to cooperate with the company until the term of the contract has expired. As a result, Warner Brothers executives felt that it was time to put an end to this on going feud. Prince was then free from all restraints of the record label. It was until the publishing contract between Prince and Warner Brothers ended, he started performing