Join Richard Stim for an in-depth discussion in this video Terminating a manager, part of Music Law: Recording Management Rights and Performance Contracts.
- Sometimes, management relationships end badly.…For example, The Jefferson Airplane engaged in a…bitter 21 year battle with their former manager…during which they were blocked from…receiving record royalties.…A management contract can help avoid…some of these problems, define each party's rights,…and establishing rules for resolving disputes.…Let's look at some of the contract provisions…related to management artist breakups.…The simplest way to end a management…agreement is to let the time run out.…
The length of the agreement, that is,…how long the manager has a job, is…established in the term provision.…It is usually in the artist's best interest…to keep the initial term as short as possible,…perhaps one or two years.…Managers usually prefer a longer initial term,…at least three years, because it often takes…that long for the artist to gain traction.…Keep in mind that we're only discussing the initial term.…The parties are always free to renew the…agreement for subsequent terms.…
Renewals can be voluntary, both parties agree to renew,…
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