A lot of new artists are afraid to put their music out there – where anyone can just come along and steal it. Moreover, music production is a process that gets a couple of people involved in creating a song, from song-writing, editing, recording to marketing, finance, etc. So, it is better to regulate this business relation/commitment and financial transactions. In order to overcome this fear of piracy breach, band arguments, or managerial conflicts, it is better to have a legal music contract or an agreement that would make it tad irrational.
Here are some justifiable reasons why having a legal music agreement is important.
FOR YOUR BRAND PROTECTION
When you protect your brand, not only are you protecting your music, but also your album cover artwork, your brand/artist/band name, logo, video, your website (if any), branding material, and any other thing that requires to be copyrighted. By signing a legal music agreement, you are keeping yourself and your business safe from any breach. It will also allow you to exploit it to the exclusion of others.
YOU NEED A MUSIC AGREEMENT TO SET OUT A BAND AGREEMENT
If you are in a band, you should create a band partnership agreement and legal music agreement that would be entitled to every band member. This will clearly define each band member’s responsibility, ownership, and role in the band. The agreement will ensure that the band agrees on a particular set of conditions.
TO CLARIFY THE TERMS AND CONDITIONS
Having a management agreement would be a smart move. It will allow you to decide in advance the responsibilities and requirements that your manager will be held accountable for. And it will guarantee a business relationship that will yield some good and favorable results. The agreement should include the term/duration of the agreement, the manager’s obligations, his commission rate, and so on.
TAKE OWNERSHIP OF YOUR WORK
Your music is your intellectual property. Taking ownership of your work protects it from getting stolen. It gives you leverage when it comes to making money from your music. Also, it allows you to exploit and license your work to any third party.
GET THE RIGHT LEGAL ADVICE
Finally, whether you are creating a band partnership agreement, a management agreement or a financial agreement, it is advisable to get initial legal advice before you get started with any new work.