Contracts and the entertainment Industry

1. an offer(one makes an offer to another person),
2. an acceptance of that offer which results in a meeting of the minds which in Latin translates ”consensus ad idem’‘.
3. a promise to perform,
4. a valuable consideration, and
5. a time or event when performance must be made.

A lot of writers differ on the elements of a valid contract but so long as an offer and acceptance has been made, a valid contract has been formed. Also, note it could be oral or written. Just always try to make it written to prevent the stress of proving the contract and to save unnecessary litigation.

In relation to the industry, whether you are an artist, manager or record label boss and want to make it big, you would be requiring the services of an attorney on standby. Forget the cost as you would save more than you would lose in trying to break the contract or buy it off. So you would have to train your mind at different contracts you might need to enter or append your signature ranging from unilateral to bilateral contracts, recording contracts to music licensing down to distribution deals.

Now the first step I would advise when you come in contact with such, no matter how little in your mind it is, is to painstakingly go through it yourself or seek the help of an attorney to help explain clauses you don’t understand, and if not okay by you, instruct them to reach out to the other party with a counter offer. This would save you lots of’ “had I known’‘ stress in the future and prevent you seeking pity from the public who were never a party to your contracts.