"Music Contract" understanding
music business contracts.
Brace
yourself, because the music industry is full of lies. But what industry doesn't
have its share of truths, lies and exaggerations? I am sure there isn't one
without issues. But you are in the music industry so you need to be aware of
some of the issues that pertain to you, especially when dealing with music
contracts and recording contracts. Being naive is something that can hurt you
the most. That is why I am here to reveal some of the biggest lies to look for
and how you can prepare yourself. The music industry can be tough but you will
do fine as long has you know what you are getting into.
One
of the first lies that you need to avoid is, "I can't throw "that" in the contract right now, but you
have my word on it." If you hear this, red
flags should go up. Most of the time little idiosyncrasies can be worked
out later but you have to be on guard. A man's handshake is not what it used to
be. If you feel the detail is crucial then demand it be in writing in your
music business contracts or else you may find yourself in an unwanted
situation.
The
next big lie when it comes to music contracts is, "You don't need to show this to your lawyer." Hmm... It
makes you think, right? Well, at least it should! There should be nothing in
writing that you shouldn't show to your lawyer when someone says that. That
should throw up another red flag because why
can't you show it to your lawyer? Don't believe it!
Another big lie you need to watch out for may
come up in simple conversation about your recording contracts. This one
is..."Of course, everyone has agreed to this..." or "That's
standard, it is in every contract." They may be telling the truth but then
again, they may not be. If you feel uneasy about what it is you are about to
sign, then seek help from a trusted friend, manager, lawyer, colleague,
whoever. Don't be afraid to take time to read over ANY contract.
The
bottom line is that if you feel that a situation is uncomfortable or unfair for
any reason, and then always trust your instincts. Don't assume that because you
have become friends with a person that their word is enough. Business is
business when it comes down to music contracts. Never mix friendship and
business because they don't mesh. If you keep everything in writing then no one
gets hurt and everyone stays aware and happy
If you find value in what I've
shared with you be sure to share it with others on FaceBook, Twitter, etc... In
other words "Pay It Forward!"
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