Final exam Flashcards
Audit
the other parties obligation to pay you will be detailed in this clause
Warranty
this clause creates a contractual promise
What does a point mean in the music industry?
1%
What does recording on spec mean?
The studio will allow you to record for free or at a reduced rate
What is a controlled composition cause?
Recoupable
In a recording contract, this term means the expenses the record label expect to be paid back through the artist’s income
Recording agreement
when a record company wants to buy the rights to a new recording
Co-publishing agreement
when a record company wants to become part owner inn the artist’s song compositions
Licensing agreement
when a record company wants to acquire rights to an album the artist has recorded themselves
Indemnity
you agree to pay for the damages you cause
What is the difference between a trademark and a service mark
Trademark is used on goods and products
Service mark is used in connect with services
The symbol ® represents what
federally registered trademark
Are band names limited by geographic area?
yes. Just because you register for a name in the US doesn’t mean its registered internationally
As soon as you….. its is your trademark
publicly use the work or symbol
The best way to develop rights in a name is to copyright it.
False. Rights in a name fall under trademark law and are developed through use
Trademark Dilution
allows owners of famous marks to prevent others from diminishing the way people perceive them
model release agreement
allows the commercial use of a person’s image
right of publicity
a state law that allows people to prevent the commercial use of their image
Retainer
an advance payment for legal work that has yet to be performed
In personal manager agreements, the manager’s percentage of gross revenue often refers to
a percentage of band income after deductions have been made
Key person clause
when a band signs a deal with a management company, it can preserve its relationship with an individual manager through this contract provision
How much do personal managers get off commission?
10-20%
What is the primary purpose of an attorney ?
To counsel you as to your legal options
Term of the agreement
the length of the management deal
General power of attorney
would allow a manager to sign a long term recording contract or file a lawsuit on the artist’s behalf
Special power of attorney
would allow a manager to handle the daily tasks specified in the management contract
Broad power of attorney
would allow a manager to take any action on behalf of the artist that they feel is reasonable
Value billing
Client is charged a percentage of the value of the deal made
Fixed-fee billing
client is billed a set fee fr a particular service project
Hourly billing
Client is billed based on an hourly rate rounded up to stated increments of an hour
Leaving member provision
the allows record company or management the right to continue managing a former member of the band
Earning plateau
the amount of money the manager must generate for the artist each year
True/False. There’s no requirement under Copyright law to get written permission to use recordings from musicians that play on your recording session.
False. Copyright law does require that you get written permission from musicians to use their recording performances on your project.
True/False. A producer is usually considered a coauthor of a sound recording due to their work performing and mixing the track.
True. This is usually the case because those actions include a degree of originality and creativity.
What are the steps for clearing a sample?
- Locate the music publisher and get permission
- Locate the owner of the master recording and ask permission
- If the owner of master says no, record your own version
To avoid financial problems in the studio, your band needs….
- someone to enforce the budget
- a realistic budget
- Techniques to get the most of each dollar spent
What does SoundExchange do
Monitors and collects royalty payments for non-interactive streaming of sound recordings
Traditional Producer role
Producer of Beats
Pop/Hip hop producer
What does registering a trademark do ?
federal trademark law allows owners of famous marks to prevent someone from tarnishing or diluting their trademark’s distinctive quality
Trademark
nothing more than a word, phrase or other symbol used to commerce to identify your business
What are income streams for a composition?
What are income streams for sound recording?