Some of you might have been or even might be #srtaightoutta a bad contract and money because of a legal dispute. The truth of the matter is that artists and companies (A&C's) find themselves in legal trouble as a result of lack of knowledge. I am sure that if it could have been prevented, then, it would have been.
It is very imperative that A&C's conduct any and all of their business dealings with a signed contract. There are countless numbers of cases regarding breach of contracts, ambiguous terms, misunderstandings, and un-negotiated terms or fees. Contracts are very crucial in the entertainment industry. While they can be helpful for business dealings, they can also be a detriment to one's success. A contract can either make or break AC's. Therefore, it is important to have contracts written with as much detail as possible. A contract should consist of active terms and conditions along with anticipatory terms in the event of a breach or termination. The less ambiguous terms are, the better the contract.
When using any contract, make sure the terms included in it are legally effective. Most importantly, make sure they are reviewed by a professional attorney who specializes in the entertainment industry. Interestingly, an attorney who does not have experience with contracts for the entertainment industry may not be as helpful in preparing the document as opposed to an attorney who is specialized in that area of law.
The following are some contracts that I have found to be some of the most helpful types of commonly used contracts for intellectual property in the entertainment industry. Although these contracts might be useful as it, always revise a template contract to make it personal and more effective.
Intellectual Property
- Copyright Assignment Agreement
- Copyright License Agreement
- End User License Agreement
- Invention Agreement
- Patent Assignment Agreement
- Patent License Agreement
- Proprietary Information Agreement
- Technology Transfer Agreement
- Trademark Assignment Agreement
- Trademark License Agreement
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