An essential element of your partnership agreement will determine who owns the copyright to the group`s original documents and recorded works. If there are dominant songwriters, they might want to get a larger share of the publishing rights to their songs, but each case is different – some groups decide to divide each revenue stream equally. For more information, see APRAAMCOS. What form of business will the group adopt? They may be an individual company, a limited liability company or company. It is beyond our discussion here to get into the peculiarities of the individual, but do some research and make an appropriate choice. If you start making money with your music, you should better realize that you are a business. The IRS and other public and local agencies might only be interested in the fact that you pay some taxes like any responsible citizen. In addition, choosing the right form of business is the right thing to do. You said you wanted to make money with your music, didn`t you? Well, act like a business and choose an appropriate form of business. Who`s doing what? While it is true that musicians often fail in their careers because of the lack of commitment of their fellow musicians, I think it is particularly important that each member of the group be responsible for a specific professional task. For example, if someone supports the booking of shows, other members may share the work of designing, printing and installing posters. There are many tasks: paying bills, finding rehearsal rooms, sending press releases. If you make a recording, someone will set up recording sessions and plan the production, promotion, marketing and sale of the CDs.
Until a group establishes itself as a viable group, attractive to labels, management companies, booking agencies, publishers and merchandise companies, someone has to take on all the tasks to be a real group. And that someone is everyone in your group. What happens to the resolution with the songs, win, property, name and who is responsible for managing it all? If you decide that you are not immune to these problems, you save a few legal fees by discussing these issues in advance. Write notes on how you deal with these issues before you sit down for legal approval from an entertainment lawyer (for a price of about $150 per hour). These are the typical issues that should be discussed and resolved in a group agreement. The potential to earn a lot of money and/or add someone or kick someone out could end up killing your group if unpleasant conversations about money don`t end proactively. Will not become a horror story. Instead, lead the conversation, focus on music and enjoy a successful career. Why tear up the boat by agreeing to band contracts? Some bands continue for years without a written band agreement and regret it.
Who owns the name of your group? Or why not leave the members? You never thought about it, did you? You`ve done better. There were hundreds, if not thousands, of complaints from group members who split up and then argued about who could continue to use the names of the groups. This could be resolved at a group meeting after the end of a regular rehearsal, not in court. Consider the following options: Changing the band agreement What type of vote does it take to change the terms of the band agreement? How many times have you heard the phrase „money changes everything?“ Well, that`s right, and that`s one of the main reasons why you want to sit down with your bandmates and find out on paper how you`re going to handle the successes or failures you win before you make money as a band or band. When there is money in the picture, I can assure you that it changes everything. Hello I play in a band and I try to establish us as an LLC under a written contract. We have a project and we want to know how much it would cost if you