Join Richard Stim for an in-depth discussion in this video Before you sign, part of Music Law: Recording, Management, Rights, and Performance Contracts.
- I'm going to discuss management agreements.…Contracts in which a manager agrees to perform…certain services, in return for…a percentage of an artist's income.…The management agreement describes the manager's tasks,…explains how the manager will be paid,…and establishes how long the manager will work.…Before entering into a management agreement,…here are a few things an artist should keep in mind.…The management contract is an exclusive arrangement.…
That is, the artist can't hire…two managers at the same time.…The exception to this rule would be…if the artist has a career in another entertainment field…in which the music manager has no expertise.…For example, acting or writing.…Even though an artist can't hire more than one manager,…the management agreement usually allows…the manager to manage many artists.…Beware, however, that in some cases,…managing many clients may lead to a conflict of interest.…
When a manager uses one act as leverage…to get a better deal for another.…If you're an artist signing with a management company,…
For example, when it comes to record contracts, it's important to know how advances and royalties work, how to maintain creative control, and what happens when a member leaves a band. Rich also tackles management contracts, describing what managers can do for you—and what to do when you need to let them go. Next, he explores the basic terms, riders, and payment options in performance contracts. Then learn about releases, artwork permissions, publishing and producer agreements, and other types of legal arrangements. Rich wraps up the course with a discussion of oral agreements, attorney fees and roles, and five basic rules worth remembering for every music contract.
DISCLAIMER: This course is taught by an attorney (or other instructor) and addresses US law concepts that may not apply in all countries. Neither LinkedIn (including Lynda.com) nor the instructor represents you and they are not giving legal advice. The information conveyed through this course is akin to a college or law school course; it is not intended to give legal advice, but instead to communicate information to help viewers understand the basics of the topic presented. The views (and legal interpretations) presented in this course do not necessarily represent the views of LinkedIn or Lynda.com.
- Why bother with a contract?
- Understanding terms, options, royalties, and deductions
- Making provisions for marketing
- Including warranties and indemnity clauses
- Hiring a manager
- Understanding performance contracts
- Getting permission to use samples
- Creating a band partnership
- Record keeping
- Going through mediation or arbitration