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Friday, September 23, 2011

Making Your Own Music-Loan Out Deals

Making Your Own Music-Loan Out Deals

This page is about loan-outs for musicians. Click below if you are seeking:

Simple Guitar Lessons
*Jamorama for online guitar lessons
* Dub Turbo for recording software

When making your own music, hopefully you will begin to get successful. As this occurs, you will want a loan-out corporation. Everybody that is a band or solo artists has one. It's called this because the corporation and not you enters in the deals, and "loans" your services to others for recording, concerts, etc. Having such a company will protect you from being sued. In other words, if the loan-out company's only assets are your record royalties, then someone who sues you over a record-related claim can only grab your record money. They can't go after say, your personal bank account balances, songwriter income, etc.  When making your own music, this is how your record deal works. You sign an exclusive recording contract with your own corporation, on a form that looks like the record company deal. Set up as a LLC(Limited Liability Company), which is set up like a corporation. Once you sign with your own corporation, the record company signs a recording agreement with that entity, which agrees to supply services. Three steps to remember and should also look like when you sign a deal. 1) Artist, 2) Loan-Out Company, 3) Distributing Record Company.

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