Shang Chi and Lessons in NIL Deals
What do college athletes and Marvel Studios action stars have in common? For one, they are both at risk of signing away very valuable name, image, and likeness rights far below their actual (or eventual value).
Simu Liu, who plays the titular roll in the recent box-office-record-smashing hit Shang-Chi and the Legend of the Ten Rings, is on the fast track to becoming a house-hold name level movie star; but movie posters aren’t the only place you will see the Hollywood actor’s face plastered. You might see him on a poster for YMCA Canada Workout Parties:
Although the actor has an excellent sense of humor about the use of his image “everywhere”, his story represents a lesson to any actors, models, and due to the NCAA’s new NIL rules, college athletes on perpetual deals and the absence of proper buyout clauses. When Simu Liu was offered that $120 to shoot stock photos it was undoubtedly an attractive deal to him, or else he wouldn’t have taken it. However, now that his name, image, and likeness are worth significantly more, the stock photo company who hired him is cashing in on his past financial hardship by fully exploiting the images. Anyone with an internet connection can find photos of the Shang Chi star and for as little as $10 own the rights to use his A-list mug in their flyers, pamphlets, and marketing materials – and Mr. Liu doesn’t see a cent of those profits, which could be the reason his lighthearted pleas to get folks to stop purchasing his stock photos.
But what could Mr. Liu have really done differently (given that legal advice is often cost-prohibitive for nascent stars)? First off, understanding that every contract is a negotiation even if it doesn’t seem like it is. Secondly, understanding that granting any rights ‘in perpetuity’ (“forever”) can really come back to haunt you in the event that you are successful. Lastly, understanding that there is no substitute for a professional legal opinion.
“But didn’t you just say that legal advice is often cost-prohibitive?” Yes. But, here at the Cozza Law Group we are dedicated to building lasting relationships with our clients. That is why we are offering free consultations to any artist, actor, or athlete who is offered a NIL deal. We believe that a nudge in the right direction can be a difference-maker between a bad deal and a great deal – between a deal that will hinder you, and one that can help you grow. Click this link to schedule a free consultation with one of our Attorneys.
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