Legal Question in Entertainment Law in California

contract needed for personal loan to artist for recording reprint

What are all the points that need to be mentioned in a contract where I, the lender, am legally protected when I loan money to a recording artist to reprint more copies and/or reproduce an older recorded CD?


Asked on 4/01/02, 2:57 am

3 Answers from Attorneys

Keith E. Cooper Keith E. Cooper, Esq.

Re: contract needed for personal loan to artist for recording reprint

Are you making a loan or an investment? If it's a loan, you need a promissory note that specifies the amount loaned, the date the payment(s) are due, the interest rate, and what, if anything, is being given as collateral. That is not "entertainment/sport law."

If, on the other hand, this is an investment and you are risking that there will be no return in exchange for an ownership interest, I strongly suggest you consult with an entertainment attorney who is familiar with music financing agreements. They are much too complex to attempt to outline is a brief question/answer, and are well worth the expense if you think the recording is worthwhile.

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Answered on 4/02/02, 9:45 pm
Michael Cortson Law Office of Michael D. Cortson, Esq.

Re: contract needed for personal loan to artist for recording reprint

I need a lot more details as is doing what, how money it is, whether the gross or net calutation, publishing, merchandising, break out rights, death of member etc... I have set up many such contracts. What collateral is being put if any, legal fees. I 2 really good bands One may get a shot at Viper room in LA where Most A&R types hang out. Most music lawyers charge around $300 an hour and want a $5000 retainer.

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Answered on 4/01/02, 5:27 am

Re: contract needed for personal loan to artist for recording reprint

This would really be a production agreement. There are too many deal points to be able to give you a short answer.

I would be happy to give you legal assistance. You can see my bio at http://www.schinner.com/html/the_schinner_law_group_-_d__al.html

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Answered on 4/01/02, 2:19 pm


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