Disclaimer: This article does not constitute legal advice. If you have any questions about your individual situation it is best to seek the advice of an experienced legal professional.
At the end of a difficult couple of years, it might seem like nobody in Hollywood needs a lawyer more than Johnny Depp. However you could also re-do the sentence to accommodate a little time travel, (movie style): Johnny Depp of several years ago could use a mediator (and it might even change events). As well as the very public break-up of his marriage, Johnny Depp has lost a great deal of his fortune, which he alleges is the fault of his management company. Depp settled the case this summer in mediation, but not before copious details of his spending habits emerged.
As this isn’t a movie, Johnny Depp’s fortune can’t be changed with time travel, but Hollywood actors can add much more to their relationships with their management and finance team than standard contracts. Mediation can be a way to manage business relationships from the beginning. Rather than entering into contracts for services with both parties unaware of the demands of each other’s position, mediation can clarify what both parties need to do to keep an entertainer’s financial ship afloat. Depp’s management company alleged that they had advised the star to reign in his finances. Depp accused the company of defrauding him by lending to third parties without authorization, investing his money in business ventures where the firm’s partners had stakes, not to mention failing to pay taxes on time. Whatever the habits of Depp and the practices of the firm, if these expectations had been clarified by mediating the relationship, there would be less excuse to fight in court. In addition, if Depp had asked for mediation when the dispute broke out, much detail of the star’s life could have been spared in court.
It’s easy to forget when you’re an entertainer that you’re a business as well as an artist. When paperwork and obligations mount up, misunderstandings can result that can cost you money and privacy. Below are some of the many reasons why mediation benefits entertainers and firms that serve entertainers:
– Hold on to your privacy, both personal and professional Mediation is a confidential process that will protect your personal privacy but also confidential details of projects you may be working on.
– Preserve good relationships within the industry If you are a firm that serves entertainment professionals, it’s beneficial to mediate disputes with clients, so you don’t damage your reputation in the industry.
– Establish better expectations and enter into better deals Business mediation can help begin or end relationships. Lesser known is the beginning part of relationships – establishing expectations for your relationship when you are making a deal (deal mediation).
– Protect yourself and your intellectual property by slowing down to read the fine print and mediate agreements in your future interest.
A Different Kind of Mediation
An additional benefit of using mediation is the benefits it brings that using purely legal means to solve a dispute cannot. At Boileau Conflict Solutions we use psychoanalysis and game theory in our business mediation. When mediating disputes in the entertainment industry business and personal concerns can be closely intertwined. Using mediation to resolve disputes or establish expectations between entertainers and their staff has the benefit of suggesting novel ways for parties keep their finances and financial relationships on track. Disputes involving personal spending, possessions and pet projects, ex-spouses and creative collaborators could surely benefit from a sensitive psychoanalytical approach. In addition, the mediators at Boileau Conflict Solutions have financial expertise. We are caring and well-educated mediators with financial, legal and psychological backgrounds. We employ careful scientific, mathematical and legal knowledge to get to the heart of almost any dispute and find a resolution. We can help resolve your dispute at urgent notice and in a fast and efficient manner if necessary. The business mediation settlement rate is high. Please contact us at our offices in Boulder CO, Campbell, CA, Irvine CA and Beverly Hill, CA, to see how we can help. We are also available via Zoom, Facetime and telephone for disputes that need remote resolution.
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https://www.hollywoodreporter.com/thr-esq/johnny-depp-settles-blockbuster-lawsuit-business-managers-1127342