Article written by Barry K Rothman.
Once you are picked up by a record label, you will eventually be asked to sign a music industry contract. This is a very important point in your career. Not only does it mean that your career is possibly about to take off, it also means that you stand to make a lot of money. However, all of this (especially the money aspect) depends on how well you know and understand your contract.
The contract is a legal document that binds you, the artist, with the recording company. After you both place your signatures, there is no going back. This is why the contract needs to be completely understood by you; because you are required to agree to terms that the recording company has set. If the contract requires you to play 250 concerts a year, that is not something you want to say “yes” to. Nor do you want to be short changed on royalties either. You have to understand that no one is out to do you any favors. The only reason a record company will want to sign you up is because they see a chance to make money using your talent. So you have to be careful on how and how far you want to let yourself be exploited.
The reason why most people get into bad deals is that, the contract is swathed in legal jargon. This is difficult to read and also to comprehend. The bottom line here is – get a lawyer. Business is business, so no matter how good the record company people seem, you need to keep your interests covered. You also might want to negotiate for a longer or shorter contract, depending on how you view you future.
Article written by Barry K Rothman. Barry K. Rothman provides skilled legal services to individuals in the entertainment industry. See Barry K. Rothman reviews to find out more.