From the course: Music Law: Managing a Band's Business

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Should you use a band partnership agreement?

Should you use a band partnership agreement?

From the course: Music Law: Managing a Band's Business

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Should you use a band partnership agreement?

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- Start with the proposition that your band is a business, and your fellow band members, as owners, must agree how to operate that business. Your decisions depend, in part, on the legal form your band is using. That is, whether your band is a sole proprietorship, partnership, corporation, or an LLC. You might think, "Well, we're just a band." But once you begin to earn money, enter into agreements, and interact with the public, the government sees you as an entity that is subject to business and tax laws. If you violate these laws, you cannot claim ignorance as a defense. As a business owner, you're expected to understand the rules. Assuming your band hasn't formed an LLC or corporation, most bands do not, then your band is probably operating as a partnership. The other possibility is that's a sole proprietorship, a band in which one person hires the other band members and tells them what to do. A partnership is a group of individuals who share the risk and profits in a venture, and…

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