Music Contract Terms # 1
When an artist assures the record label that the recordings they deliver will be of a specific quality and free of claims
What are warranties and representations in a recording agreement
When changes are made to an agreement after it has been executed and these changes are made in writing and signed by both parties
What is an Amendment?
A short, non-legally binding document that summarizes the key terms and conditions of a contract before a formal agreement is signed
What is a Deal Memo ?
The number of master recordings that an artist has to deliver during each contract period
What is the Delivery Commitment in a Recording Contract ?
Guides and oversees the day-to-day affairs of creative talent and gets paid a percentage of their gross or net income
What is an Artist Manager?
A contract that grants permission to use music in conjunction with videos , films, ads and games
What is a Synchronization License?
When two labels enter into an agreement to make, market, distribute and sell records; share in the rights, profits and losses
What is a Record Label Joint Venture Agreement ?
A new offer that rejects or materially changes the terms of the previous or original offer.
What is a counteroffer?
Agreement where the music company participates in artist' s record and non-record activities and income which may include touring publishing, merchandise, endorsements etc.
What is a 360 Deal ?
Agreement that gives businesses, tv and radio stations, restaurants and digital streaming services access and the the ability to perform all songs in Performing Rights Organization's repertory
What is a Blanket License?
Offer, acceptance, consideration, capacity
What are the main elements of a contract ?
Contractual clause in music publishing contracts that allows the songwriter to recapture their rights in some or all songs after a certain period of time or after certain conditions have been met, e.g., when the account is recouped
What is a Reversion Clause ?
The length of time that a contract remains in effect
What is the term of an Agreement ?
Pre-payment of royalties
What is an advance?
Secures live music performances, concerts and tours for artists and musicians
What is a Booking Agent ?
Agreement that prevents the receiving party from disclosing or sharing protected information for a period of time
What is a Non-Disclosure Agreement ?
Synchronization License
Mechanical License
Master License
Public Performance License
Theatrical License
What are different types of music licenses ?
A copyright in a new work exists once/if
a) it has been around for 70 years after being created
b) it is referenced in a contract between the parties
c) it is fixed in tangible form
What is
c) once it is fixed in tangible form ?
The countries or markets where the terms of the agreement apply
What is the Territory of an Agreement ?
A sunset clause in a management contract deals with payment of commissions
a) while the term is in effect; or
b) earned on deals manager did
c) on monies received after the Term expired generated from deals made during the term
What is
c) on monies received after the Term expired from. deals made during the term
When something of value is exchanged between parties to a contract
What is Consideration?
Copyright infringement occurs when, without permission:
a) 4 bars of an original score are copied or
b) 6 bars of an original score are copied or
c) any number of bars of an original score are copied
What is c) "any number of bars of an original score are copied"
A broad Power of Attorney in a Management Contract allows the manager to
a) receive /deposit money on behalf of artist; and/or
b) sign Artist's name on contracts/ and/or
c) endorse and deposit Artist's checks to any account and/or
d) all of the above
What is d) " All of the above"
Clause in a recording agreement that that restricts an artist from recording for other labels or releasing their music independently
What is an exclusivity clause in a
recording contract ?
An artist pays income tax on an advance....
a) the year it is recouped or
b) the year it is received
What is " the year it is received"