When entering into any kind of contractual arrangement that you do not understand, you should take specialist expert advice.
Hints and Tips
· Free advice can be obtained from The Musicians Union (if you are a member) and collection societies such as the PRS and MCPS have useful websites.
· If you are on a low income you may be able to get free legal advice from a solicitor under what is known as the "Green Form scheme".
· If seeking legal advice from a solicitor, you should ensure that you choose a solicitor that is experienced in the music industry.
· Ask people within the industry to recommend someone. The Musicians Union, the PRS, the Law Society, and the Music Week Directory are all sources that will be able to give you details of specialist music solicitors. Personal recommendation is always good. It is also important to shop around and make sure you are dealing with professionals that you feel comfortable with and that speak your language.
· You should also assure that the advice you are given is independent. So for example, if you are signing a Management Agreement, you should not really be taking advice from your Manager's solicitor. It is important that you have your own solicitor who will look after your own personal interests.
The reality of dealing with contracts, music industry personnel, managers, lawyers and agents can be different from the theory.
In many cases, you can protect your business interests by being quick on your feet and having a good grounding of the basic facts.
Beware!
As in usual business practice, your scope for negotiation depends on the strength of your bargaining position.
You can over-play the deal and effectively ruin it by making unrealistic demands. At the same time, you may not be aware of your true potential and give your rights away for next to nothing! This is why it is important to have experienced and trustworthy business advisors.
|
