DEFINITIONS

Question 1

Artist Manager:

Answer 1

manages an artist and deals with daily operations, and develop long-term plans & assist in personal matters

Question 2

PEST:

Answer 2

political economic social technological

Question 3

Audience

Answer 3

group of people, customers, market

Question 4

Agent

Answer 4

job that works with artist to book concerts, tours, appearances, and negotiates contracts

Question 5

Concert Promoter

Answer 5

talent buyers that works for venues

Question 6

Merchandising

Answer 6

artists’s products (tees, vinyl’s, etc)

Question 7

Licensing

Answer 7

rights of copyright or a performance

Question 8

Life-Cycle

Answer 8

what the artist has done in his time in the business (albums dropped etc)

Question 9

Musical Intelligence

Answer 9

skills of professionalism, performing, writing, originality

Question 10

Creativity

Answer 10

process of being original, moment of discovery/production

Question 11

Fans

Answer 11

one who enjoys music, is a part of the audience

Question 12

Celebrity

Answer 12

artist, product of media/fame making

Question 13

Public Relations

Answer 13

role of doing promotional campaigns, make artist interest among media

Question 14

Authenticity

Answer 14

Being original

Question 15

Intellectual Property

Answer 15

IP, Actions of copyright, trademark and patent of an artistic work

Question 16

Economic Rights

Answer 16

Creators rights: Reproduction, Distribution, Public performance, broadcast, adaptation

Question 17

Trademark

Answer 17

Recognizable sign, design, or expression identifying products or service

Question 18

Patent:

Answer 18

Right to exclude others from making, using, or selling an invention

Question 19

Contractual Clause

Answer 19

: section of a contract that limits how much label pays in royalties

Question 20

Sole Proprietorship

Answer 20

someone who profits with no formal business

Question 21

Limited Liability Company:

Answer 21

LLC, business allowed/recognized by the state

Question 22

S Corporation

Answer 22

small business that is treated as a partnership
for federal tax purposes

Question 23

Commission:

Answer 23

fee paid for performing a service ( managers commission is 15-20 percent of artist earning)

Question 24

Adjusted Gross Income

Answer 24

money from artist after expenses are deducted

Question 25

Sunset Clause:

Answer 25

clause that is lets managers get commission on something after contract expires

Question 26

Indemnity:

Answer 26

protection against a loss, monetary or legal problem

Question 27

‘Key Man’ Clause:

Answer 27

clause that makes sure artist that agreement with manager remains even if manager leaves

Question 28

Mechanical License :

Answer 28

license needed to make and distribute recorsings written by someone other than artist

Question 29

Synchronized License:

Answer 29

license that lets a song be used in video format

Question 30

Co-Publishing Agreement

Answer 30

agreement that lets publisher administer an artist composition

Question 31

Administrative Agreement

Answer 31

agreement that lets administrator collects all income for songwriter/publisher

Question 32

Grant of Rights Clause:

Answer 32

clause that lets songwriter sell the songs copyright

Question 33

Cross Collateralization

Answer 33

royalties regained to pay off previous advances

Question 34

Recoupable:

Answer 34

regained

Question 35

Advances:

Answer 35

upfront payment from label to artist to use to make album/project

Question 36

Option Periods

Answer 36

period of time that label commits to artist

Question 37

Flat Guarantee

Answer 37

deal that promoter pays artist specific amount no matter ticket sales

Question 38

Endorsement

Answer 38

famous artist that uses its recognition to recommend a product in an ad, positively influence consumer into buying.