COPYRIGHT LAW
All songwriters should have at least the basics of these memorized. Much of this you can learn just by ordering your free copy of your form PA and SR and reading the booklet that comes with it. Be sure to make yourself lots of copies of these forms and maybe even a few of the booklets to give out to co-writers and band mates so everyone knows where they stand as far as publishing royalties go. Make sure you know the difference between what is considered being a songwriter and an arranger, and who will get what kind of money beforehand, clearly mapped out in writing. From what I was told in chatting directly with the copyright office, the person who writes the lyrics and the melody is the songwriter, and the rest is simply arrangement. If you want to be nice and include your arranger in the credits and share in the copyrights, that is up to you, but there really is no reason for you to do that, and the copyright office actually doesn't like you doing this. As far as they told me, that is something that should be arranged in a separate contract, and has nothing to do with the publishing. If you honestly can say that you couldn't have come up with that song if your co-writer hadn't come up with that cool arrangement that you wrote lyrics and melody for, then, I personally think you should give that person credit, but keep in mind that the copyright office doesn't agree with this, no matter how wrong many of us think that it is. There are a few good books on this topic, too, and you can always do like I did and call them with questions, so study up on this, especially if you are a lyricist, and know what your rights are.
MUSIC CONTRACTS
There are several standard contracts floating around that the industry uses, and it is in your best interest to read all of them. Sad but true, a beginning songwriter gets little or no respect as far as money, and often has to sign away a lot of standard rights just to get signed anymore-know what the usual percentages are, standard advances, standard deductions and try to memorize main components for your own good. Beware, too, the usual rip-offs of tour buses and videos-many bands have only come away with a tiny fraction of their money from album sales and touring because they mistakenly thought that the bus and all the food were freebies. It's standard for many bands to have all expenses taken out of royalties, so it is just a loan against future earnings, and if your album flops and you don't sell tickets to your shows, you can actually end up owing the record company money, and may never see your masters to your album again. This is why it is always best to get a good music lawyer to look over all contracts, but you are far safer if you bother to know what your rights are long before you go to that lawyer, just in case they are just trying to get you to sign so they can get their fee, and could care less whether you are getting a fair deal or not. Ask other musicians who have been signed, especially at panel discussions at music conventions, and find out as many nightmare stories as you can, as well as any advice they can give you on things that you might think of adding to your contract if you are able to. Many labels will make some modifications to a standard contract, so be on the lookout for these, and READ EVERY PAGE. I know that they are long, and mind numbing, but this is your income for the next few years you are talking about, not just an apartment lease. Just as an apartment lease, make sure you understand what you are signing before you do. It may save you some serious heartbreak down the line if you do.
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