From the course: Music Law: Recording, Management, Rights, and Performance Contracts
Join today to access over 22,500 courses taught by industry experts or purchase this course individually.
Band partnership
From the course: Music Law: Recording, Management, Rights, and Performance Contracts
Band partnership
- A band partnership agreement is used by a band or group of musicians, to help them set standards for hiring or firing members, dividing up revenue and establishing who owns group property. Only bands operating as a partnership should use this agreement. It's not used if one member is hiring the other members of the group and treating them like contractors or employees, known as a sole proprietorship, or if the group is a corporation or an LLC. If the band doesn't fit any of these categories, then by default, the state government and the IRS will consider the group as a partnership. In the absence of an agreement, for example, under state laws, the group's profit must be shared equally and each member has an equal voice in running the business. If that's not the arrangement wanted by the group, then a partnership agreement is needed. A partnership agreement is also needed if the members want to establish ownership of songs, ownership of the group's name and other trademarks and to…
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.