How much is your name worth? If you are an average Kenyan it could be nothing. For the heiress to Carter empire - Blue Ivy Carter, it's USD 10 million (aprox Sh 1 billion). Here we are not talking about what she is worth but rather the cost of her name. Let's give you a brief background:
The Carters (Jay -Z and Beyonce) have been in the process of buying exclusive rights to the name of their daughter Blue Ivy Carter since 2012. Then it happened that there is a wedding planner called Victoria Morales who owns a company called Blue Ivy.
Morales opposed The Carters' attempt to patent the name of their five year-old daughter through a legal suit.
The Blast is however reporting that Morales invited The Carters' and their lawyers to a settlement meeting last week but instead offered a business proposal that would cost USD 10 million for her to relinquish her claim to the name.
"Beyonces’s legal team claims shortly after Veronica Morales opposed the trademark filing for “Blue Ivy Carter,” a meeting was set up between the two parties to try and settle the claim. However, they say the meeting turned out to be a “business proposal” for Morales to try and offload her company in exchange for dropping the trademark opposition," reports The Blast.
"Beyonces’s team says during the meeting, Morales’ counsel “gave a long speech” about treating the opposition as an “opportunity for a business relationship rather than an adversarial proceeding.” They say Morales put together a Power Point presentation to show why Beyoncé should acquire her wedding planning business AND her “Blue Ivy” trademark and then they could combine forces and “begin producing products and goods” with Bey attached. Morales allegedly offered a bundle deal for $10 million," the report continued.
Beyoncé and her team took a hard pass and now they want Morales and her lawyers to turn over all evidence of the sales pitch, including the Power Point presentation, to prove their position that the entire battle for the trademark is just a grab at money.