More details to this question:
I am a musician and have been offered a contract by a small record company. The contract states "exclusively license the artist's music worldwide." It is a 50/50 deal, they are promising to market my music to as many radio stations as possible and put the songs in online stores and give me half of the profit. I want to know what happens if I want to work with another company while I am under contract with this one, as well as how do I know if they are telling me the truth about the sales? Seems like they could tell me it's barely selling just to take more for themselves...
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I would suggest that you have an attorney review the agreement before you sign it. It is pretty difficult to give very good advice without having reviewed the agreement, but it sounds like you would probably be prevented under the agreement from working with other companies while you were under this contract. You want to make sure that there are specific marketing requirements that the company must perform so that you can get out of the contract if they aren't performing.
Let me know if you would like any assistance.
Thanks,Jon
Answered on Mar 26th, 2014 at 1:02 PM