Will Michael Jackson’s Death Spawn a Battle Over His Assets, Including His Intellectual Property and Right of Publicity?
Perhaps it’s inevitable. Michael Jackson’s sudden, tragic death may trigger a battle over his assets, which would include his intellectual property and right of publicity interests. CNN.com has already reported on this possibility at the following link: http://www.cnn.com/2009/SHOWBIZ/06/26/jackson.children.will/index.html
Sometimes, the assets and intellectual property rights of a famous individual will be carefully transferred through testamentary documents based on the celebrity’s wishes. Other times–and more often than many might suspect–it is left for the heirs and potential claimants to fight it out. Adding to the feeding frenzy is the expectation of sudden fortune to be claimed, which tends to bring distant “relatives,” “long-lost friends,” and claimants with even more mysterious links to the celebirty out of the woodwork. I’ve seen it before. Some people claim to be the long lost child of Marilyn Monroe. Others claim to be Marilyn reincarnated. And when Rosa Parks died, a lengthy probate process ensued in Michigan over who had a viable claim to her estate. With not much real property to divide, that battle was almost entirely about Rosa Park’s intangible rights, which essentially is her right of publicity.
In the case of Michael Jackson, it has not yet been disclosed what testamentary documents he may have put in place. His family circumstances are rather complex, so without a clear succession plan for assets like his right of publicity, it could take a team of lawyers and a judicial decree to resolve the question. As the above CNN link reports, it is not known whether he had a will in place at all.
Jackson was married several times, and had children who were born to two mothers, Debbie Rowe and an unidentified surrogate. Rowe gave up her parental rights to her two kids with Jackson, but later sought to have her parental rights reinstated. In the absence of testamentary instructions from Jackson, or any possible assignment of his rights during his lifetime, the laws of intestacy will likely control. Interpretation of a given state’s intestacy likely will include examination of Jackson’s spouses, children, siblings, and parents. Since he had all of the above, it will be interesting to see if things can be worked out amicably.
Even with his reported debt of almost $500 million, I expect Jackson’s assets to be considerable. His music publishing interests, as well as a 25% ownership in the Beatles music publishing catalog, will be valuable for a long time to come. What is less likekly to be reported, but is potentially every bit as valuable, is Michael Jackson’s right of publicity, which would be the subject matter for any advertising or merchandising that issues from this point forward.
Sadly, the craziness that surrounded much of Michael Jackson’s life will probably not stop any time soon, even after his untimely death on June 25, 2009.
http://www.RightofPublicity.com
I’d be happy to assume responsibility for his debt. I have no plans to pay my own and would not pay a dime of his, but the thought of owing that much would heighten the thrill of my singlee finger salute to America’s banking industry.
the question is who will pay off this dead beat’s debts?
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