Entertainment lawyer Oluyemisi Falaye has revealed that Asake signed a contract with Olamide’s YBNL without reviewing it with a lawyer, and it didn’t turn out well for him, and that’s why he didn’t renew his contract when it expired.
The lawyer, recounting when Olamide signed Asake ans how Asake was so overwhelmed with happiness that he said he wouldn’t get a lawyer to review the agreement, said Asake has been turning out songs and he had been around for the longest period.
She went on to say, Olamide gave him a contract to give to a lawyer to review, and imagine her saying, “You are going to assign your right in propriety, so I advise you don’t sign it.” and he rejects the advice with the thought the lawyer was against his progress.
Asake signed the contract, and Falaye stated that the contract didn’t particularly work for him because if it did, Asake would have renewed his contract or be receptive to reviewing the terms. She said because Asake felt hurt and cheated, in quotes.
One of the hosts, using an instance of someone who ran out of cash but has an investor by his side giving him good money, and the money flips the company around positively, and the person begins thinking why he should do all the work and the company takes 80 percent of the revenue, adding that such happens everywhere, but it’s amplified in the music industry.
Lawyer Yemisi, speaking on the reason why such contracts exist, stated that it’s due to the flurry of excitement of being signed by a big brand and the interest to “BLOW.” This makes an artist believe that a lawyer is going to kill “MY” dream, supposedly.
She added that in being such superstars, the streams amount to millions in currencies, and the artist goes back to his contract. what he gets is in consonance to what he had signed in the contract.