4 Steps for Signing Recording Contracts

When you are considering signing recording contracts, it is important to know how to handle them. There are many things to consider and lengthy negotiations can cost you the deal. Therefore it is wise to have a game plan before you sit down to the table. Knowing how to proceed and what steps to take will make negotiations go more smoothly and help you make informed decisions. Knowledge is power and when you couple it with planning it will make you a winner. When you come to the negotiating table with confidence you will not be intimidated and make wrong decisions. Here are some step by step instructions.

Step #1: Check the company: Before you sign a recording contract with a company you should check them out first. This is especially true for smaller companies. Obviously the big names will speak for themselves. Firstly see what their distribution record track record is like. How many CD’s, DVD’s etc have they really sold? What are their distributing partner! s like? What are the company’s relationships with their distributors like? How much can they really spend on advertising and promoting your work? Seek out others who have used the company and ask them about their experiences with the company. Never walk into an agreement without knowing something about the company.

Step #2: Hire a lawyer: Sometimes signing recording contracts is difficult, especially if it is your first one. You may not fully understand what you are getting into. There are many legal clauses that may not be apparent at first glance. You should always hire a lawyer when signing these agreements. However do not just go out and get any lawyer, it is best to find one that knows about these matters, an entertainment lawyer. Do your researches well before you hire legal council so that you know you will get a fair deal.

Step #3: Read the fine print. Read the entire recording contract, especially the fine print, and give especial care to ! checking royalties, copyrights, licenses and terms. You want t! o be ver y sure that you understand every single clause in your agreement before you sign. Be sure you talk over al the clauses with your lawyer and clear up any misunderstandings. Once you sign it is legal and binding and there is no way out. All questions will need to be answered before you sign. There should be nothing to negotiate after the contract is signed.

Step #4: Check out the money: Be sure that you will be making profits when you sign any recording contracts. Understand how much money you will actually be making, and how much will be going to the company. This is very important as many musicians and song writers get the raw end of the deal with companies and end up making next to nothing for all their hard work. Calculate all the money you may have to pay the company for production costs and how much your royalties will actually be. Remember to add up all your expenses when calculating profit, including your time.

--
Visit http://www.MusicContr! acts101.com for more information on recording contracts and other free resources by Ty Cohen, nation-wide music industry seminar speaker and panelist. He is also the author and creator of over 40 best-selling music business books, reports, courses, audio products and other music industry "How to" resources, that have helped tens of thousands of individuals just like you to successfully find their way in the music business. Also visit http://www.MusicIndustryCoachingClub.com/freecdarticles for a free music industry success video, audio CD and report that reveal the secrets used to sell over 150 Gold & Platinum CDs world wide. (Value - $49.99)

Source: http://www.articletrader.com