Whether you have been in the entertainment business for years or you are just entering this exciting new career, you need to be sure that you are protecting your best interests with a strong entertainment contract. If these contracts are not planned well, they can create many unintended consequences. To help you make sure that you are creating a contract you can rely on, here are four things to be aware of for your entertainment contract:
An entertainment contract would likely have a portion that includes an exclusive rights deal, where the artist consents to only work for a specific party. If you are not fully aware of the details of this portion of your contract, it may interrupt or even cancel other plans you may have alongside this project. It is far too common for an entertainer to learn too late that they cannot conduct other business outside of their current contract’s obligations.
Reversion of rights
This portion specifies the details surrounding when an artist has their rights returned to them from the party who received them temporarily. Common examples of this may include when a book becomes “out of print” or the rights revert after a particular triggered event.
Contract length and termination
Every contract should specify how long the agreement will last and under what conditions the contract will end. It is not uncommon for contracts to require a 30 days notice before termination; each party will often negotiate or add their own stipulations to this portion of the contract.
Before you sign a contract, make sure that it is complete to the degree that it covers all necessary and essential matters. The best way to ensure that a contract you are about to sign is complete is by having a skilled attorney review it on your behalf. Your lawyer can also help you review the contract and ensure that it is meeting your best interests in the above areas.