Are you a musician in a rock band? Are you pursuing music as a serious career? Do you have a band agreement?
Cue the sound of a record screeching to a halt. ”What’s a band agreement?” you may be asking. You’re not the only one. As someone with experience as a musician, I can attest that a band agreement can clear up uncertainties and is an important way to head off any difficulties for you and your band down the road.
A band agreement is a contract formally embodying the band and each member’s relationship to the band and to each other. For example, many bands formally incorporate as a corporation, a limited liability corporation (LLC), or some other business entity. And that’s just the tip of the iceberg. Effective band agreements include many key terms and provisions, comprehensively detailing how the band will work. Common terms in a band agreement include the ownership of the band name and likeness; the percentages by which profits will be shared; procedures for voting on band decisions; hiring, firing, and quitting; amending the agreement; and buyouts. Additionally, band agreements may delineate the how the songwriting and publishing moneys are distributed. I know, I know: this all sounds too formal for a free-spirited rock n’ roll band to consider, but if you are looking to make a career out of music, a band agreement is essential. You have to treat your band like a business, and a band agreement is a great way to start.
On April 20, Volunteer Lawyers for the Arts is hosting a seminar on band agreements at the offices of Goodwin Procter, located at Exchange Place, 53 State Street in Boston. The speaker is attorney Valerie Lovely, a musician and highly experienced music attorney. All information about registration and pricing can be found here on the VLA website. And so you know, the price has been reduced from $60 per person to $30, with each additional band member paying $10 for admission. It’s a bargain, and it’s a great opportunity to learn, so check it out!
If you are in a band and are interested in learning about band agreements, I highly recommend that you speak with a music attorney and attend this seminar. Who knows, you may find out that even musicians need to learn about contract law after all!
band agreements · Boston Music Lawyer · Goodwin Procter · law · music · Valerie Lovely · Volunteer Lawyers for the Arts · Worcester Music Lawyer
As lawyers, we are required to keep abreast of new developments in the law, not just in our chosen areas of expertise, but across the field generally. This stems from both a desire to be well-rounded attorneys and from professional curiosity. However, some areas of American law touch on the lives of everyone, attorneys and non-attorneys alike. One such area is tax law.
The horror! All joking aside, tax time is a stressful time for all because none of us want to make mistakes in paying our fair share to Uncle Sam. However, as the Center for Freedom and Prosperity recently highlighted, the costs of merely complying with America’s confusing thicket of tax regulations totals 7.6 billion man hours (yes, that’s “billion” with a “b”), the equivalent of 3.8 million full-time jobs. In fact, the tax compliance business is a $340 billion per year industry. Staggering numbers, to be sure. The video explaining these costs, a part of CF&P’s “Economics 101″ project, can be seen here.
As always, it’s best to consult professionals, whether they be lawyers, accountants, or the IRS itself, if you have any questions regarding your tax obligations. However, the hidden compliance costs in both time and money (which, oftentimes, are the same thing) are worth mulling over the next time April 15 draws near.
Welcome to the Athans & Hogan, LLC legal blog.! We will be writing about interesting and vital developments in the law that pertain to our practice and our clients. Please check back often, as we will be updating this blog regularly. Thanks for visiting, and we look forward to hearing from you in our comments section.