As Michael Douglas' new film "Wall Street 2" is set to release later this year, his ex-wife Diandre Douglas has filed suit seeking half of Douglas' earnings for the film. The original "Wall Street" film was released in 1987, during the time of Douglas' 23 year marriage to Diandre. The couple subsequently divorced in 2000 and Michael Douglas has since remarried.
At issue is the language of the couple's divorce decree, which reportedly entitles his ex-wife to receive half of Douglas' income for any "spinoffs" from work created during the marriage. But is "Wall Street 2" a true "spinoff" or a "sequel," as it continues the storyline of "Wall Street" twenty years later?
The suit is a good reminder to define terms in agreements- "spinoff," "derivatives," "presequel," and "sequel."
More information about the case can be found here.