A band agreement states the rules under which band members should act and operate throughout the life of the band. These rules outline band member’s rights and how much each member will be paid for the income the band generates, as well as how to troubleshoot conflict that may arise.
A band should enter an agreement when they begin receiving an income and eventually will prevent conflict around issues pertaining to member’s payments, royalties and song writing credits.
Key terms of an agreement:
- Legal Structure
- Commencement Date and Term
- Band Names
- Income Splits
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