What is Artist Management Agreement Drafting?
An artist management agreement is a legally binding contract that specifies how a performer and manager will work together. It has to provide information regarding their rights, obligations, and duties.
If you need to draft an artist management agreement, here are the tips to follow. Read the rest of this article for clarity about key terms to include in the agreement, how to draft it professionally, and when to reach out to a lawyer for help with the drafting process.
What are Key Terms in an Artist Management Agreement?
An artist management agreement usually contains core components such as the following:
- Services scope. Detail what the manager will be responsible for, such as press coordination and negotiating deals for the artist.
- Commission. Specify the commission rate, which tends to be between 15 and 20 percent of the artist’s gross earnings.
- Duration. State how long the artist management agreement will last and if it’s tied to certain performance goals.
- Territory. You should define the manager’s authority, such as if it’s local or worldwide.
- Expenses. Outline all the costs involved in the agreement and which ones are reimbursable.
- Power of attorney. For clarity, this clause is required if the manager can sign contracts or make certain business decisions on behalf of the artist.
What are Tips for Drafting an Artist Management Agreement?
An artist management agreement should contain details to minimize your legal and financial risks. Here are some things to bear in mind during the drafting of your contract.
Explain the Manager’s Authority
Make it clear exactly what the manager is expected to do and what decisions they have the authority to make. This should detail their list of duties, if they can negotiate deals for the artist, and what documents they’re allowed to sign. Be specific to prevent the manager from doing things that aren’t authorized by the artist.
Protect Intellectual Property (IP)
Your artist management agreement must specify ownership of copyright, master recordings, name and likeness, and merchandising rights. Include any other IP ownership to prevent future disputes.
Consider a Sunset Period
A sunset period is when a manager can continue receiving commission on certain deals after the contract ends. You want to be sure that this doesn’t automatically allow the manager to earn commission on everything that you, as the artist, will be earning in the future. Set a duration for the sunset period and be clear about what constitutes a qualifying deal.
Clarify the Commission Rate
Be detailed about exactly how much commission the manager will receive and for what duties, based on their responsibilities and what services they’ll provide to the artist.
Address different revenue streams to prevent a vague contract that states the manager will earn commission on all income from the artist’s activities. For example, consider if the manager will earn commission based on the artist’s live performances, recording advances, or songwriting income.
Should a Lawyer Draft Your Artist Management Agreement?
During the process of drafting your artist management agreement, a lawyer will conduct various activities that you might not consider. These will serve to protect your interests so that you can minimize your risks.
A lawyer will:
- Understand the parties’ goals, expectations, and working arrangement so that the agreement they draft is customized to the parties’ specific needs.
- Define the management services scope, such as regarding marketing, negotiating deals, and artist bookings.
- Draft clear, specific provisions that ensure there is no missing or vague information in the agreement.
- Negotiate any terms with the other party should this be required.
- Cover all financial terms, such as expenses, recordkeeping, and audit rights for transparency.
- Address IP ownership. They’ll make it clear who legally owns IP such as recordings, trademarks, and more, depending on what the agreement includes.
- Help you to terminate the contract. Should you find that the contract is no longer aligned with your requirements, a lawyer will help you to end it. They’ll include notice periods and consider post-termination requirements.
- Review the artist management agreement. If you’ve already drafted your agreement, you can hire a lawyer to review its terms so that they’re legally valid and clear to both parties.
Hire a Lawyer for Artist Management Agreement Drafting
If you need to hire a lawyer to draft your artist management agreement, the process is easy on online legal platforms such as ContractsCounsel. These platforms put you in contact with lawyers who have the experience and skills to provide a finalized agreement that works for you.
ContractsCounsel is one of the largest marketplaces that connects you to a curated network of lawyers who have been vetted on the platform.
To request that a lawyer on ContractsCounsel drafts your artist management agreement, here are the easy steps to follow.
- On your device, go to the ContractsCounsel marketplace.
- Choose ‘One-time project’ and ‘Create or update contract.’ If you’d prefer to ask for a review of your agreement, select ‘Contract review’ instead.
- Post your project, which is free. Mention some information about what you need so that you can connect with suitable lawyers.
- Wait for bids. Instead of searching for lawyers, you’ll receive multiple bids from lawyers directly on the platform who are ready to work with you.
- Review the platform’s lawyer data. This information includes the lawyers’ credentials, years of experience, location, field of expertise, and client ratings.
- Select a lawyer who meets your requirements and hire them to draft your artist management agreement for a flat fee.
