Chapter 6 (Legal & Business Affairs) - Posted on 2017-11-06 by Ernesto Trujillo

The legal department is responsible for handling the contracts between the Record Label and Artists as well as contracs between the label and other companies. They handle lawsuits, the label and other parties. The business department is responsible for handling the labels finances, budget, payroll and bookkeeping. These departments are crucial and cannot function without them. It deals with Territory (developing more rapidly), Term (duration of the agreement), Advances (sums of money paid to Artist), Recording Costs (studio time, engineer invoices, equiptment, gear ets..), Master ownership (the artist and artist counsel may negotiate a license deal), Release Commitment (requiring the artists to deliver a certain number of recordings), Royalties, Accounting, 360 deals, assignment, auditing and creative control.