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A hybrid Music/FinTech company evolving music as an asset class needed savvy technologist-meets-musician lawyers for its success.
After all, music makes the people come together… and to Jayaram.
A highly funded, cutting-edge technology company was on path to launch a platform to invest in and trade music. The company knew that evolving copyright, privacy and securities legal areas would have implications for platform function and user experience. The company required a partner to distill a complicated array of law-influenced marketing and operations considerations, provide related direction for
platform UI/UX and operations, and complete the related legal work.
The company engaged Jayaram as its sole outside legal counsel to work with its small in-house team. We leveraged our knowledge of copyright law in the music industry, securities regulation, and data privacy law,looking through the lenses of musicians, NFT creators and, more broadly, Web3 operability gurus, to advise the company on specific features, content and information flows required to roll out the product; and we worked within the Company’s tight product launch time frame.
We negotiated the NFT drops with opposing counsel, which contained music IP belonging to platinum selling artists. We created contracts for artists and users to transact with the platform widely acceptable to all counter-parties, yet still benefiting the company, with practical, forward-thinking, easily understood language. We worked side-by-side with regulators and product teams to generate the highest selling and (we think) most culturally impactful music NFT drop to date.
To date, the company has dropped multiple groundbreaking NFTs with highly influential and iconic artists, generating millions in revenue using the strategies, related structures and formal materials we delivered. We continue to partner with the company as its strategic outside counsel in ongoing support of its aggressive growth.