How to Save Money on Music Contracts
How much would you estimate an entertainment lawyer would charge hourly to draft music contracts for you? Would you guess $50, $150, $100 or even $200 per hour? Think again! Try $300 or more, an hour! Unless you are absolutely loaded, I am going to safely assume that you don't have that kind of cash lying around to blow on lawyer's fees. This is especially true for people just beginning in the music industry.
Lawyer's fees can easily take away from money you need for studio time, payroll, publishing, entertaining clients, advertising or any other crucial day-to-day activities that you or your company relies on to survive. Don't let this happen to you because it is not necessary. You money is better spent elsewhere.
To be honest with you, most music business contracts that you receive from your lawyer are written by their paralegals or legal secretaries. This means, you are paying them your hard earned money only to have them pass the work off to someone below them. Keep this in mind when searching for an entertainment lawyer. Don't get me wrong. It is a great idea to have a lawyer in your corner in case you need them. But you don't have to pay the unnecessary fees when you have other options.
So, do you actually want to spend roughly $2500 on recording contracts when there may be an easier way? I surely hope not! If your goal is to save money then you have come to the right place. The key to cutting these types of corners is by using music contract forms. For the money it cost to go to lunch, buy a round of drinks and spend a couple hours in the studio, you could purchase these pre-written contracts.
Now, you may wonder if there are contract forms that cover every aspect of the music business and the answer is yes. You can buy a complete set that fits all your needs. Whether it is distribution, manufacturing, royalties, copyrights or publishing, it doesn't matter, it is all there. You can ever edit each and everyone to fit your distinct needs or wants. When it is all over, if you want your lawyer to review it, you will only be billed for 20 minutes as opposed to 5 hours. That will save you an immense amount of money in the long-run and who doesn't love that?
Related Tags: recording, music contracts, music business contracts
Ty Cohen, owner of Platinum Millennium publishing, former record label owner & national music industry seminar speaker/panelist. Author & creator of best-selling music biz books, courses, audio products & "How to" resources that helped 1000s.Visit http://www.order-yours-now.com/ for more information on Music Contracts, Recording, & Music Business Contracts.
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