Final exam

Question 1

Audit

Answer 1

the other parties obligation to pay you will be detailed in this clause

Question 2

Warranty

Answer 2

this clause creates a contractual promise

Question 3

What does a point mean in the music industry?

Answer 3

1%

Question 4

What does recording on spec mean?

Answer 4

The studio will allow you to record for free or at a reduced rate

Question 5

What is a controlled composition cause?

Question 6

Recoupable

Answer 6

In a recording contract, this term means the expenses the record label expect to be paid back through the artist’s income

Question 7

Recording agreement

Answer 7

when a record company wants to buy the rights to a new recording

Question 8

Co-publishing agreement

Answer 8

when a record company wants to become part owner inn the artist’s song compositions

Question 9

Licensing agreement

Answer 9

when a record company wants to acquire rights to an album the artist has recorded themselves

Question 10

Indemnity

Answer 10

you agree to pay for the damages you cause

Question 11

What is the difference between a trademark and a service mark

Answer 11

Trademark is used on goods and products
Service mark is used in connect with services

Question 12

The symbol ® represents what

Answer 12

federally registered trademark

Question 13

Are band names limited by geographic area?

Answer 13

yes. Just because you register for a name in the US doesn’t mean its registered internationally

Question 14

As soon as you….. its is your trademark

Answer 14

publicly use the work or symbol

Question 15

The best way to develop rights in a name is to copyright it.

Answer 15

False. Rights in a name fall under trademark law and are developed through use

Question 16

Trademark Dilution

Answer 16

allows owners of famous marks to prevent others from diminishing the way people perceive them

Question 17

model release agreement

Answer 17

allows the commercial use of a person’s image

Question 18

right of publicity

Answer 18

a state law that allows people to prevent the commercial use of their image

Question 19

Retainer

Answer 19

an advance payment for legal work that has yet to be performed

Question 20

In personal manager agreements, the manager’s percentage of gross revenue often refers to

Answer 20

a percentage of band income after deductions have been made

Question 21

Key person clause

Answer 21

when a band signs a deal with a management company, it can preserve its relationship with an individual manager through this contract provision

Question 22

How much do personal managers get off commission?

Answer 22

10-20%

Question 23

What is the primary purpose of an attorney ?

Answer 23

To counsel you as to your legal options

Question 24

Term of the agreement

Answer 24

the length of the management deal

Question 25

General power of attorney

Answer 25

would allow a manager to sign a long term recording contract or file a lawsuit on the artist’s behalf

Question 26

Special power of attorney

Answer 26

would allow a manager to handle the daily tasks specified in the management contract

Question 27

Broad power of attorney

Answer 27

would allow a manager to take any action on behalf of the artist that they feel is reasonable

Question 28

Value billing

Answer 28

Client is charged a percentage of the value of the deal made

Question 29

Fixed-fee billing

Answer 29

client is billed a set fee fr a particular service project

Question 30

Hourly billing

Answer 30

Client is billed based on an hourly rate rounded up to stated increments of an hour

Question 31

Leaving member provision

Answer 31

the allows record company or management the right to continue managing a former member of the band

Question 32

Earning plateau

Answer 32

the amount of money the manager must generate for the artist each year

Question 33

True/False. There’s no requirement under Copyright law to get written permission to use recordings from musicians that play on your recording session.

Answer 33

False. Copyright law does require that you get written permission from musicians to use their recording performances on your project.

Question 34

True/False. A producer is usually considered a coauthor of a sound recording due to their work performing and mixing the track.

Answer 34

True. This is usually the case because those actions include a degree of originality and creativity.

Question 35

What are the steps for clearing a sample?

Answer 35

1. Locate the music publisher and get permission
2. Locate the owner of the master recording and ask permission
3. If the owner of master says no, record your own version

Question 36

To avoid financial problems in the studio, your band needs….

Answer 36

1. someone to enforce the budget
2. a realistic budget
3. Techniques to get the most of each dollar spent

Question 37

What does SoundExchange do

Answer 37

Monitors and collects royalty payments for non-interactive streaming of sound recordings

Question 38

Traditional Producer role

Question 39

Producer of Beats

Question 40

Pop/Hip hop producer

Question 41

What does registering a trademark do ?

Answer 41

federal trademark law allows owners of famous marks to prevent someone from tarnishing or diluting their trademark’s distinctive quality

Question 42

Trademark

Answer 42

nothing more than a word, phrase or other symbol used to commerce to identify your business

Question 43

What are income streams for a composition?

Question 44

What are income streams for sound recording?