After much contention, THE BOYZ will be able to keep their name after leaving their former agency IST Entertainment.
The group's new agency, One Hundred, reached a sudden agreement with IST Entertainment after many days of back and forth on December 5, explaining that trademark negotiations were made in the best interest of the members, as per Ten Asia.
Read more: THE BOYZ Officially Parts Ways With IST Entertainment + Deobis Divided In Their Reactions
One Hundred announced the highly anticipated news in a statement:
"Hello, this is ONEHUNDRED.
Today (5th), through a meeting with IST Entertainment, we have successfully reached mutual agreement regarding the use of 'The Boyz' trademark and three key points of discussion.
After clearing up past misunderstandings and having an open and honest conversation, both ONEHUNDRED and IST Entertainment prioritized the well-being of The Boyz members and the fans, 'The B,' and have come to a conclusion that ensures everyone's happiness.
We sincerely thank IST Entertainment for approaching this negotiation with an open mind.
We deeply apologize for any discomfort caused to The Boyz and The B fans during this brief period of uncertainty, and ONEHUNDRED will continue to actively support the growth and protection of the talents under "The Boyz" brand.
We would also like to express our gratitude to The B fans and the IST Entertainment family who have supported The Boyz over the past 7 years, and we kindly ask for your continued interest and warm support in the future.
Thank you."
One Hundred had refuted IST Entertainment's prior claims that the former agency had offered the group rights to their alias "for free."
"Two of the three conditions stipulated on the document that IST Entertainment sent to us on Wednesday were disadvantageous to the artists," said the agency in its press release on Thursday.
The conditions, the agency added, contradict the group's ability for free usage of the moniker, and that only usage rights were granted, not trademark rights, thereby entitling IST Entertainment to the group's trademark and profits.
With the trademark debate settled, the 11-member band which consists of Sangyeon, Jacob, Younghoon, Hyunjae, Juyeon, Kevin, New, Q, Ju Haknyeon, Sunwoo, and Eric, can expect to depart from IST Entertainment, which ends their contract on Thursday.
The group is expected to join One Hundred later this month.
