"The Purple Cow Law Firm"
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Brodsky Law Firm PLLC
2 West 46th Street (at 5 Av)
Suite 307
New York, NY 10036
(646) 827-8702
info@lawyer79.com
© 2006 Brodsky Law Firm PLLC.
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HOW TO START YOUR OWN RECORD LABEL:
THE LEGAL STUFF
by Steve Brodsky, Esq. (click
here for printer-friendly version)
Our law firm is fast becoming the number one legal resource for new record labels. We help many entrepreneurs start their music business.
The reasons are simple:
1. Our legal fees are the LOWEST in the US.
2. Our knowledge is equal to the high-priced entertainment lawyers out there.
3. The service you get far exceeds what you get from high-priced attorneys.
We have helped hundreds of artists and
labels through the early stages of startup and beyond.
Here is a list of some of the steps you will need to take as a new label, along
with some sample fees:
|
1. Form your business entity, whether it's a corporation or an LLC. We will
discuss your options with you and advise you on the best way to protect yourself
and save money on taxes. The we'll prepare the paperwork and file it with the
proper state authority. We charge only $99 plus the state filing fee. 2. Get a federal tax ID number so you can open a business bank account. We charge just $39 for this. 3. Trademark your record label name. This is very important, especially in the music industry. It takes about a year to complete, so get started now! Our fee is just $399 plus the $325 filing fee. 4. Sign your artists to recording contracts. We will discuss the various ways to structure your deals to maximize revenue potential and draft the recording contract for your artist to sign. The flat fee for this is only $399. 5. Trademark your artists' stage names. Another crucial step often overlooked. Again, the fee is only $399 plus filing fee. The cost of this is typically charged to your artist and can be deemed a recoupable advance. 6. Do you manage an artist? If so, you definitely need a management agreement to protect yourself. Our flat fee to advise you and prepare the agreement is just $299. 7. Is your company owned by more than one person? If so, you absolutely, positively need an operating agreement (for an LLC) or a shareholders agreement (for a corporation). This is the document which sets forth the ownership of the company and all the contingencies. We charge only $199 to $299 for this, depending on the number of owners and the complexity of the structure. Most other lawyers charge over $1,000. Without this document, there is no proof of who owns what, and what the partners are entitled to. |
The total for legal services which will provide a SOLID GROUND on which to
build your business, comes to a little over $1,300 for numbers 1, 2, 3, 4, and 5. The
government filing fees for those services would be just over $900.
If you think you can successfully operate a music label without doing at
least steps 1-5, you are mistaken. You need to set aside funds for the legal
structure BEFORE you budget for other expenses. Your choice is whether to
pay about $1,300 to us, or over $5,000 to
another lawyer for the same thing.
Find out for yourself. Ask any other lawyer what s/he would charge for the
above. It's your call.
(click
here for printer-friendly version)
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