(Source - PitchMyStuff.com )
In today's increasingly litigious society it is more important than ever to safeguard your rights by contract. It doesn’t have to be dozens of pages drawn up by a team of lawyers at great expense, but don’t assume a handshake and someones ‘word’ will do - this is the music business remember !
The first step to safeguarding your own musical welfare and income is to recognise the need and accept the necessity for formal contracts, once you’ve mastered this then you’re half way there.
The second step is actually creating the contracts you need, and step three? Well of course that’s getting the contract signed.
Step 1:
Consider what is involved in any deal, think ahead. Consider who is involved and what each party is hoping to get out of this deal, including of course ...you.
Step 2:
Having decided that enough is at stake, financial or career terms, to warrant a formal agreement between the parties involved, take time to browse through the following contract ‘type’ sections to find the contract that you need. We can’t guarantee to have exactly what you need, but there should be something close within all the contracts we have on file.
Select the best contract to suit you and then, well then you’ll just have to use your common sense and amend the contract as necessary to best suit your requirements.
Consider all factors, who is to do what, when and how. Who owns what, who has what claim or responsibilities. What costs, charges or incomes are to be detailed and what is the apportionment etc. etc...you get the idea.
If you’re going to have a contract make sure it covers everything you need it to. It’ll be hard, if not impossible, to make changes after the effect, so spend time considering every eventuality in every potential scenario. Don’t be afraid to encompass peripheral stuff while you’re at it, the ‘other parties’ will probably be grateful that you have been so thorough and will respect the fact that you’ve taken such a professional approach to your work.
Step 3:
You should of course have advised all parties involved in advance that you require a contract so they know what‘s expected. They may even already have something that fits perfectly for just such an occasion, but remember, if someone else supplies a contract then almost certainly it has been built more for their interest than yours - so be careful ! However it may save you time and effort, so just be sure to check it out carefully, and don’t be afraid to respond confidently with your ‘suggested’ amendments ... but hey, don’t expect all your requirements to be accepted without argument!
Once you have an agreed format for your contract, take a little more time to think it through in it‘s completed format thoroughly, double check it, i.e. don’t rush in and get everything signed up over a lunchtime drink.
Remember, once it’s signed ... you are just as tied to it as the other party(ies), the door swings both ways!
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