producer contract

_subsections/music-production-company/v10-understand_contracts.org

@@ -21,3 +21,87 @@
 
 ** refresher on copyrights
  [[file:../../music_legal_basics.org::#copyrights-explained][Copyrights Explained]]
+
+** purpose of a contract
+   1. establish a business relationship between two parties
+   2. define the rights and responsibilities between each party
+   3. split the profits between each party
+
+*** purpose who, what
+- who is the contract between
+- what is it for
+
+*** exclusivity
+- is it exclusive to the party we are signing to
+  - are we forbidden from doing this kind of business with anyone else
+  - incentivizes one party to work hard
+- or is it non exclusive
+  - lets you move about the chessboard freely
+
+*** the term (length of time)
+- how long is it going to be
+- optional renewal period
+  - if one party didn't do their job, but they renew it is a problem
+  - has to be written correctly
+
+*** territory (geographic)
+- local
+- worldwide
+
+** what rights are you giving up
+- understand what you are agreeing to
+
+** advances / royalties
+- these are advances on the projected sales that the side thinks the artist can make
+
+*** things for the artist to consider
+- how much advanced
+- how much must be repaid
+- what percentage of projected earnings is the artist gaining
+- when must it be repaid
+- how can it be repaid
+
+*** royalties
+- what is his cut
+- of this how much must be given back to the advance
+- when will he receive the royalties
+- how will it be paid
+
+** warranty
+- what can I not be a part of
+- what must I not be doing
+- we also have to confirm that the receiver will not be crossing lines with another contract
+
+** attorney
+*** when to get an attorney
+- too involved
+- seems sketchy
+- too complicated
+- any disputes
+  - any breaches
+- any amount over $2000
+  - ESPECIALLY when its going somewhere
+
+*** where to get an attorney
+- linked in
+- music functions
+
+*** breaching contract
+- speak to an attorney and tell them you have a problem with the contract and want to find an exit
+
+- if there is no exit, find out what the consequences are of breaching the contract
+
+** final words
+- find a producer contract and learn how to read it
+- find a split sheet and learn it
+- learn how to read a basic record deal (360 deal)
+ 
+** structure of contract
+
+*** top of contract must have
+- purpose
+- exclusivity
+- term
+- territory
+
+*** you don't want that buried