New User Special Price Expires in

Let's log you in.

Sign in with Facebook


Don't have a StudySoup account? Create one here!


Create a StudySoup account

Be part of our community, it's free to join!

Sign up with Facebook


Create your account
By creating an account you agree to StudySoup's terms and conditions and privacy policy

Already have a StudySoup account? Login here

Final Review

by: Zannah Leeds

Final Review Music Contract and Negotiations

Zannah Leeds
Full Sail University
GPA 3.08
Music Contract and Negotiations
Victoria Hernandez

Almost Ready


These notes were just uploaded, and will be ready to view shortly.

Purchase these notes here, or revisit this page.

Either way, we'll remind you when they're ready :)

Preview These Notes for FREE

Get a free preview of these Notes, just enter your email below.

Unlock Preview
Unlock Preview

Preview these materials now for free

Why put in your email? Get access to more of this material and other relevant free materials for your school

View Preview

About this Document

Music Contract and Negotiations
Victoria Hernandez
Test Prep (MCAT, SAT...)
75 ?




Popular in Music Contract and Negotiations

Popular in Music

This 7 page Test Prep (MCAT, SAT...) was uploaded by Zannah Leeds on Monday February 2, 2015. The Test Prep (MCAT, SAT...) belongs to Music Contract and Negotiations at Full Sail University taught by Victoria Hernandez in Winter2015. Since its upload, it has received 210 views. For similar materials see Music Contract and Negotiations in Music at Full Sail University.

Similar to Music Contract and Negotiations at Full Sail University


Reviews for Final Review


Report this Material


What is Karma?


Karma is the currency of StudySoup.

You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/02/15
LCN Final Review Remember that the nal is cumulative As such use your midterm study guide as well in order to fully prepare General Contract Law 1 What is the fundamental principle of contract laW b Freedom 2 What are the ve points of a valid contract a Unambiguous b Consideration c Capacity i Age mental ability authority d No illegal acts e Mutual Agreement 3 What is the Statute of Frauds a Covers areas Which have traditionally been subject to fraud 4 What are the siX types of contracts that fall under the Statute of Frauds Cannot be performed Within 1 year Concerning interest in reality Consideration of marriage Assuming the debt of another Sale of goods over 500 Assignment of copyright W99 9 5 What is the Mailbox Rule a Acceptance is effective and cannot be Withdrawn once it has been mailed 6 What is the Mirror Image Rule a Acceptance must be unconditional and must not change the terms of the offer 7 Why is it important to read and understand the de nitions given in a contract a Key to understanding the deal b Head off ambiguity 8 De ne Rider a Attached to an agreement for live performance b Sets forth special needs of performer usually relating to food beverages dressing rooms etc 9 De ne Warranty a An eXpress or implied promise that something is guaranteed b Must be strictly complied With 10 What is Indemnity a A duty to make good any loss damage or liability incurred by another b To absolve another from any nancial responsibility for damage or other liability arising from the transaction a A duty to make good any loss damage or liability incurred by another b To absolve another from any nancial responsibility for damage or other liability arising from the transaction 11 An indemnity clause commonly follows which clause a Warranty 12 Give the general de nition of Condition a Future and uncertain event on which the existence or extent of an obligation or liability depends 13 What is a Most Favored Nations clause a States that the party promised this status will receive as good of a deal as anyone else 14 Give the general de nition of Option a A privilege that one party may or may not choose to exercise b Usually refers to the ability to continue to term of the contract for an additional period 15 What is the difference between a Material Breach and an Immaterial Breach a Material Breach i Results in such detriment to one party that it is substantially deprives him of what he is entitled to expect under the contract ii Non breaching party is excused from further responsibilities under the contract 1 May sue for damages incurred as a result of breach b Immaterial Breach i Violation of an unimportant term or violates the contract in a minor way ii Non breaching party is not excused from his obligations 1 May sue for damages incurred as a result of breach 16 Why would you include a Liquidated Damages clause in a contract How must it be limited a Liquidated Damages i Provides a speci c dollar amount to be paid due to breach of contract b Limitation of Damages i Places a ceiling on the amount recoverable for a breach Recording Contracts 1 What does term refer to and what are the two common forms this takes b Duration of the agreement c Initial Period and Optional Periods 2 In a recording agreement which party has the right to exercise the option a Record company 3 What is California Labor Code Section 2855 What effect does it have on options a Personal services contracts may not be enforced beyond 7 years 4 Give the de nition of Option with a Condition Precedent a Automatic Termination i Something must happen before the company can exercise the option 3 T13 41 A adh IA In AA AAA 10 ll 12 13 i Something must happen before the company can exercise the option ii If the condition is not met b Negate Exercise of Option i If the threshold number of albums is not met artist has the opportunity to negate the label s exercise of the option What is an Option to Make Up the Difference a Company can opt to make up the number of albums in order to reach the gure What is an Option Exercise Date a The date by which notice must be given for the exercise of the option to be valid What may happen if the recording agreement calls for an Advance With the Exercise of the Option and the label fails to send a check with the notice of option a The option is not in effect If the agreement calls for Automatic Exercise of an option under what circumstance would the label have to give notice a Notice of Option What is a recording commitment a The artist s obligation to record a speci ed number of masters or sides singles albums or CDs and deliver them to the record company upon demand What are the terms to watch out for in the recording commitment a Commercially Satisfactory i Highly subjective b Chosen by Company i This means that the company can choose what the artist records and therefore has creative control over the artist When a minimum recording commitment is contained in a contract what should the artist make sure is included in order to prevent overcall masters a A maximum recording commitment And what are overcall masters anyway a Masters that are over the amount of the minimum recording agreement List some of the elements that may be required for delivery Session tapes Licenses Artwork Credits Promo items Etc W99 14 What will happen to the artist if he fails to deliver How is this different in an 15 open ended agreement a May result in automatic suspension b Open ended agreement i No automatic suspension ii Instead contract term is extended What is form I 9 ii Instead contract term is extended 15 What is form I 9 a US Immigration and Naturalization Service Employment Eligibility Certi cate b Legally required 16 For what reasons might an artist be suspended a Non delivery b Inability to perform c Failure to actively pursue a career d Contractual breach i Real or perceived 17 What happens to an artist when he is suspended a May be kept from recording i Does not apply performance TV lm appearance b Stoppage of income 18 De ne royalties a Money due to an artist for the sale or use of that artist s recordings b Referred to as points as in percentage points c Base Royalty i The starting royalty for regular full price sales 19 Many factors may cause the royalty rate to vary List them a How sold i Mail order ii Brink and mortar iii Download b Where sold i Domestic ii Foreign c Price i Whole sale ii Retail d To whom sold i Libraries ii PX iiiEtc e Con guration of product i CD ii Vinyl 20 What is the formula for royalty computation a Sale Price X Royalty Rate Deductions Payment i Deductions are made as provided in the agreement 21 What is royalty acceleration a Royalty increases upon hitting sales benchmarks b Only full price royalty sales count towards reaching the benchmarks c Only domestic sales d Increased rate is not retroactive to earlier sales i Unless agreed upon in contract ii Called retroactive royalty 22 Why do record companies hold reserves a Reserve against future returns b To avoid excess payment to artist the label will withhold a portion of the 9141 of o rnvqlhpo an1 rpfnrno tarp Qr r nnnfprl Fm v v LAJ V AVVVA 39VAAAIJHAAA39U LAVA AVUVA v vu a Reserve against future returns b To avoid excess payment to artist the label will withhold a portion of the artist s royalties until returns are accounted for c Negotiated in contract agreement 23 What are freebies Why should an artist allow freebies a Free products that may be distributed to stores radio stations record clubs etc b Promo tool for the artist c Royalties are not paid on freebies 24 What is a container charge Who pays for it a Packaging charge b Deducted from the royalty computation price c Applies to all types of sales 25 De ne cross collateralization a Income from one record will be used to recoup the advance on another record and vice versa b Income from merchandise touring etc will be used to recoup costs of record and vice versa 26 What things are considered recoupable expenses Which is the largest cost a Any advances b Costs of recording i Largest recoupable cost 27 Explain an All In agreement a Production company supplies an artist and producer to label i In exchange for all in royalty b Label agrees to one overall royalty c Production company receives royalty and distributes to artist and producer 28 Within the context of recording agreements what does accounting mean What provision should always be included in order to protect the artist a Essentially when the artist gets paid 29 De ne coupling How can an artist limit this a Known as compilations b Master is grouped with other masters and released as a package c Royalties are based on artist s contribution to the album 30 De ne joint recording a Two or more artists on one master b Usually doesn t apply to the minimum recording commitment c Royalty rates are decided by participation in recording 31 What things are usually found in a Grant of Rights provision Who are the rights being granted to Granted to label by artist Indemnity clause Coupling Foreign sales Joint recording 99069 32 Why would an artist want to limit an indemnity clause a Limit what it takes to activate clause 33 What effect does a rerecording restriction have on an artist a Prevents the artist from rerecording a master under a different label than 33 What effect does a rerecording restriction have on an artist a Prevents the artist from rerecording a master under a different label than originally recorded under 34 What is a morals clause How should it be limited to protect the artist a Gives the label the right to terminate the contract for immoral acts of the artist i Usually due to bad re ection of the company Independent Producer Agreements 1 Aside from producing and recording masters what are the common duties of the producer b Prepare amp meet budget requirements Prepare amp le session reports Clear rights to compositions Comply with union regulations Obtain properly completed I 9 forms homo 2 Should the producer be liable for recording costs If so how much a Recording costs recouped from artist b Producer often responsible for costs over 110 of budget 3 In regard to publicity and advertising what word should be included for the producer s bene t when granting rights to the label Why a Shall Option Agreements 1 What is an option agreement b Essentially a trial period for an artist c Record company or production company enter into a short agreement designed to decide whether the artist should be signed to a regular recording agreement 2 What is the average recording commitment associated with an option agreement a Usually between 2 and 4 masters b May not have a commitment if the artist already has masters 3 What two things are negotiated when referring to the double negotiation involved in option agreements a Terms b Recording agreement Performance A g reements 1 What 4 different methods of Compensation can be used to pay the artist for a live performance b Percentage of gate c Flat fee d Guaranteed fee or percentage of gate i Whichever is higher e Guaranteed fee plus a percentage of revenues 2 What will the venue want under a Merchandise Rider a 15 40 of gross sales 3 What is usually covered in Clippings and Posters Riders Why would the artist want this V What is usually covered in Clippings and Posters Riders Why would the artist want this a Allows artist to review the press generated before and after the show b Used to measure how well the venue promoted the event Why would the artist want the venue owner to sign an Insurance Rider a If the venue signs Insurance Rider and doesn t have insurance the Artist can sue venue if someone is injured or something is damaged What is a Cancellation Rider a Only for artists with bargaining power b Artist gets paid if a gig is cancelled c Closer to show date the larger the payment


Buy Material

Are you sure you want to buy this material for

75 Karma

Buy Material

BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.


You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

Why people love StudySoup

Bentley McCaw University of Florida

"I was shooting for a perfect 4.0 GPA this semester. Having StudySoup as a study aid was critical to helping me achieve my goal...and I nailed it!"

Kyle Maynard Purdue

"When you're taking detailed notes and trying to help everyone else out in the class, it really helps you learn and understand the I made $280 on my first study guide!"

Steve Martinelli UC Los Angeles

"There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Parker Thompson 500 Startups

"It's a great way for students to improve their educational experience and it seemed like a product that everybody wants, so all the people participating are winning."

Become an Elite Notetaker and start selling your notes online!

Refund Policy


All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email


StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here:

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.