The Exclusive Recording Agreement is a fundamental document in the music industry, governed by English and Welsh law, which establishes the legal framework for the relationship between recording artists and record labels. This agreement is essential when a record label wishes to secure exclusive rights to an artist's recordings and related intellectual property. It covers crucial aspects such as recording commitments, ownership of master recordings, royalty structures, and territorial rights. The document typically includes provisions for both traditional and digital exploitation of recordings, marketing obligations, and may extend to ancillary rights such as merchandising. This agreement is particularly important as it often represents a significant commitment for both parties, potentially spanning multiple years and album releases.
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1. Parties: Identification of the record label and artist/band
2. Background: Context of the agreement and relationship between parties
3. Definitions: Key terms used throughout the agreement
4. Grant of Rights: Scope of rights being granted to the record label
5. Term: Duration of the agreement including option periods
6. Recording Obligations: Artist's obligations regarding recording deliverables
7. Royalties: Payment terms and royalty calculations
8. Accounting and Payments: Terms for financial reporting and payment schedules
1. 360 Rights: Additional rights beyond recording (merchandising, touring), used in comprehensive deals
2. Minimum Marketing Commitment: Label's promotional obligations, included when negotiated by established artists
3. Artist Development: Label's commitment to artist development, common in new artist agreements
1. Recording Schedule: Detailed timeline for recording and delivery
2. Royalty Calculations: Detailed breakdown of royalty rates and calculations
3. Technical Specifications: Required format and quality of recordings
4. Territories: List of territories covered by the agreement
Relevant legal definitions
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