By Richard Stim
In case you belong to a band and love the paintings of your activity, yet sing the blues in terms of the company, you would like track legislations. Composed through musician and attorney Richard Stim, the booklet explains tips to: locate definitely the right supervisor; purchase, insure and keep apparatus; get gigs and receives a commission; journey on the cheap; use samples; do covers legally; safeguard your copyright; trademark your band’s identify; pick out a recording studio; promote your tune; deal with your web site; comprehend checklist contracts; take care of taxes. the simplest advisor on hand for bands this present day, track legislation offers all of the criminal details and useful suggestion musicians have to hold from getting burned. All felony kinds and agreements integrated, as tearouts and on CDROM.
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Additional info for Music Law: How to Run Your Band's Business, 6th Edition
If you are not dependent on your band business, you probably don’t need this type of policy. When you’re shopping for this type of insurance (or any other, for that matter), 44 | Music Law always check the exclusions and coverage. For example, some policies may provide an “extended period of indemnity,” which kicks in after you start performing again, to cover your continuing losses until you are fully back on earning the same income (as before the interruption).
The last sentence of this provision (“Each Band Partner indemnifies each other Band Partner from all claims …”) refers to a legal principle known as indemnification. If a band partner breaks one of the promises—for example, gets in a fist fight with a club manager—and the band partnership is sued, partnership law says that every partner of the band is liable for any damages awarded. If each band partner indemnifies the other partners, however, then ultimately only the band partner who caused the problem will pay the damages and legal fees by paying back the others.
The main reason most bands go to the trouble of forming LLCs and corporations is to get this limited liability. But that’s not to say you should rush out tomorrow and turn your band partnership into one of these entities. As explained below, limited liability can sometimes be more of a myth than a reality for most bands. For practical reasons, you may not get the benefits you want from the LLC or corporate form Chapter 2 | Band partnershipS and beyond | 39 of business, so it’s often not worth the time, trouble, and expense of converting to an LLC or incorporating.