#1626151 - 12/08/00 03:47 AM
shopping deal
|
gcrawford23@yahoo.com
Member
Registered: 11/30/00
Posts: 6
Loc: Mpls,MN,UNITED STATES
|
Offline
|
|
Dear Doctor Al,
Have you ever personally read and/or signed a shopping deal contract? Because myself and a few other friends are trying to build our own record lable, a mutual friend asked our assitance to shop his material. He's a singer-songwriter. Anyhow, we said here old buddy, a page and a half shopping agreement for you to sign. Well, it doesn't really read like a shopping agreement. It reads like a publishing agreement. Which is technically what "shopping something" means. Him not being able to afford an attorney he decided to handle it himself. Took it home, read it and completely freaked out. This was the simplest most generic boiler-plate deal you had ever seen. Is there a shopping agreement that you've seen that actually reads like a shopping agreement? Weve been thru several books and our legal eagle hasn't been able to find one either.
|
|
Top
|
|
|
|
#1626152 - 12/10/00 05:50 PM
Re: shopping deal
|
Doctor Al
Senior Member
Registered: 05/05/00
Posts: 192
Loc: ,,US
|
|
Offline
|
|
A shopping deal where I come from means you're gonna play somebody's stuff for the big boys and if they like it and sign the act, you are compensated. Usually, the involvement ends there, unless you are the producer, publisher, or attorney.
If you are NOT any of those three, you should take 10% of the advance maney or the cash equivalent of the deal and walk away. If you ARE one of those three, there are too many options to discuss here quickly.
So your boiler-plate contract should read:
If I John Smith get you a record deal, you, The Shmutzs agree to pay me 10% of the cash advance or 10% of the album budget. If I dont get you a deal in six months this paper is null & void.
Thank you very much
Hope this helps you
|
|
Top
|
|
|
|
|
#1626153 - 12/12/00 02:06 AM
Re: shopping deal
|
gcrawford23@yahoo.com
Member
Registered: 11/30/00
Posts: 6
Loc: Mpls,MN,UNITED STATES
|
|
Offline
|
|
Dr. Al, How did you know the name of the band? The Schmutzs' that's it! We were concerned about handing off someone elses' material. There nearest thing we could find explained that by doing that we technicaly became publishers. So, we were informed by legal people who we were not paying that we needed to sign a publishing contract with our songwriter friend in order to cover our ass in case something went ker-fucko. We had never seen a shopping deal before. What you said is kinda what we thought. Thanks.
|
|
Top
|
|
|
|
|
|
|
