Before you create an artist management contract, you need to know what type you want to use. The type depends on the manager, because managers have different management methods. Just make sure you include the basic clauses in the document you create. The two main types of talent management contracts are: a short-term agreement can also be referred to as a “testing phase”. It serves as a formal “meeting phase” and can be organized very easily: they can also include a statement in which the artist confirms that he has the power to enter into such an agreement and the right of each party if the other party breaks or violates the contract. For an artist, getting a professional management offer is usually a payment for many years of hard work in the voluble entertainment industry. For this reason, artists may sometimes think that the management agreement they sign is a “Take it or let it” situation, or that the terms of the agreement sound good. Identifying the details of the violation is important if one of the parties does not meet the expectations set out in the agreement. The non-violation clause underlines how both parties will suspend the contract. Also include the extent to which the administrator can transfer his right to another person and the details of the termination of the contract before the term of the contract expires. The duration is the duration of the agreement.
The usual contract is valid for one year, with the possibility of renewing the contract with the agreement of both parties. This is a period when clauses can be renegotiated. Tip 1 – Limit as much as possible the initial duration of the management agreement At Studio Legal, we check many management agreements, especially for young musicians. Here are our top 5 tips on common negotiating points for management agreements. For small artists, managers will generally strive to become accountants for the artist`s bank account. In this situation, the manager has a lot of control over the funds that come from the artist`s bank account, whereas it is in his interest that these funds be used to pay the manager`s commission and other agreed administration fees. Good morning, Antonio. The first thing that gave me a break was to become “recently hit” and “managing partner” in the same sentence. I would be very careful to sign with a managing partner you just met. I don`t know anything about record companies that manage partner contracts, but I do know how quickly partnerships can move south (negative).
So, if you`re sure you want to enter into this contract, you should enter into a good exit clause. If you don`t have a correct written agreement and don`t know what to enter into the agreement, hire an entertainment lawyer to design a professional contract for you. I hope it helps. That is why it is important that both sides are on the same side of the leadership`s role. They should also agree on their collective expectations and goals. Although an oral agreement is sufficient, it is always recommended to have a written management contract to avoid conflicts in the future.