2. Legal Basics
โข Attorneys handle legal matters
& must be licensed to practice in
the state(s) in which they practice
โข You may provide your own legal counsel
โข ONLY licensed attorneys can dispense
legal advice to others
โข Typical payment arrangements for attorneys:
โ Hourly Fee
โ Flat Fee
โ Monthly Retainer
โ % or points of clients gross income
(approx. 5 %)
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3. Legal Basics
โข Attorneys can be generalists or
specialists
โข Not all attorneys will understand the
music business--look for someone who
works consistently in the music industry
โข Types of law needed in the music
industry:
โ Contract & Business Law
โ Intellectual Property Law- especially
Copyright and Trademark
โ Tax Law
โ Estate Law
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4. Typical Music Business
Contracts
โข Band Partnership agreement
โข Co-Writer agreement
โข Publisher agreement
โข Artist Management agreement
โข Label shopping agreement
โข Licensing agreements
โข Recording contract
โข Distribution deals
โข Performance/Live Event agreement
โข Merchandising agreement
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5. Elements of a standard
contract
โข Date & Jurisdiction
โข Parties to the agreement
โข Term- length
โข Exclusivity
โข Ownership rights
โข Payment terms and arrangement
โข Credits
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6. Elements of a standard
contract
โข Warranty
โข Breach or Default
โข Expenses/Chargebacks
โข Audits
โข Arbitration
โข Option to renew
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7. Working with Attorneys
โข Study your business situation and
analyze exactly what you need from
the attorney-
โ Planning and implementing
business structures
โ Drafting a contract for you and
your new manager
โ Application for a U.S. Trademark
โ Risk Analysis for your new venue
โข Many attorneys work on โbillable hoursโ-
conversations can be charged to you
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8. Working with Attorneys
โข Keep your discussions focused and to
the point-designate only one point
of contact between a group and
the attorney
โข Hire the best attorney your money can
buy- it will save you money and time
ultimately-- try to avoid using friends,
family or acquaintances as your attorney,
unless they are highly qualified to
give music industry-specific legal advice
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9. Working with Attorneys
โข If you are signing a contract with a
record label, make sure your attorney
knows how to draft and redline
recording contracts
โข Donโt sign a record contract
without experienced legal representation
โข Your attorney is a service provider--
you can terminate your relationship
with your attorney at any time
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10. Legal Resources
โขLegal Self-Representation:
Nolo Press- nolo.com
โขFree Legal Advice:
Volunteer Lawyers for the Arts:
http://www.askthemusiclawyer.org
Ask the Music Lawyerโข hotline
212.319.2787 x1
ยฉ 2006 musicbizclasses.com
11. For Educational Use Only
This slide presentation is part
of the Music Business Essentials series.
Contact
info@musicbizclasses.com
for more information
ยฉ 2006 musicbizclasses.com
