One of Nick Cannon’s biggest learning lessons was losing his publishing rights as a teenager.

“Someone signed my publishing away when I was a teenager for $10,000. One of the biggest mistakes… one of the biggest lessons I’ve ever learned,” Cannon said during an interview on “The Diary Of A CEO Clips.”

Cannon’s experience has shaped his leadership style at his record label and entertainment company N’Credible Entertainment. To him, there’s a chance to set right the past wrongs he faced during his earlier days.

“Now I’m giving away that $10,000 to these kids, and I don’t want nothing from ’em, but to see you win,” he said on the podcast. “And that’s me paying it forward. That’s me correcting what this industry has done to people for so long.”

He added, “If you wanna sign with N’Credible, that’s your choice. You can sign to me if you want to, but I’m good. I’mma still be rich, so I don’t need anything from you. If you want to join the gang, let’s go. There’s benefits and perks.”

Cannon’s approach isn’t understood by everyone in his circle. However, he doubles down on his stance as he does not desire to take ownership in other people’s careers.

“A lot of people even from my attorneys and people in my circle, like, ‘Man, you gotta sign these people. How you going to function? How you going to allow your business to thrive if you don’t sign?’ Well, it’s been working thus far,” he expressed. “I don’t like signing people. I don’t like having ownership in someone else’s brand.”

He continued, “Now we could be collaborative. We can write a song together, and we can split the publishing. It costs money to keep the lights on. You can use my studio. I get reimbursed down the line when it’s time, but I’m not gonna take something from you. I’m not gonna charge the artists. That’s a f-cked up concept that we’ve just been operating in, and no one’s ever corrected it.”