What is the name of your state (only U.S.law)? California
A music library has offered me and my brother an agreement for master use/sync licensing of a recording we did back in the 1970s so as to add it to their library to present to TV and film producers for soundtrack usage.
The agreement is basically a 50/50 split on everything, except they take no publishing. However, it's for 7 years. Seems very long.
Most libraries I've compared data on only go for 2 to 3 years and then renew. But It is non-exclusive though, so I guess I can live with that part.
But my main concern is the sub-publishing aspect which says it is a 50/50 split. I'm okay with that, but at the end of that statement it says "MINUS COSTS."
Is this a legal phrase of art that's slipped in that leaves the situation open for abuse and manipulation of so-called "costs" during accounting so that there could conceivably be no "50%" for us??? Shouldn't standard and ordinary costs that normally occur be delineated or something that doesn't leave it so open to undermining our 50%?What is the name of your state (only U.S. law)?
A music library has offered me and my brother an agreement for master use/sync licensing of a recording we did back in the 1970s so as to add it to their library to present to TV and film producers for soundtrack usage.
The agreement is basically a 50/50 split on everything, except they take no publishing. However, it's for 7 years. Seems very long.
Most libraries I've compared data on only go for 2 to 3 years and then renew. But It is non-exclusive though, so I guess I can live with that part.
But my main concern is the sub-publishing aspect which says it is a 50/50 split. I'm okay with that, but at the end of that statement it says "MINUS COSTS."
Is this a legal phrase of art that's slipped in that leaves the situation open for abuse and manipulation of so-called "costs" during accounting so that there could conceivably be no "50%" for us??? Shouldn't standard and ordinary costs that normally occur be delineated or something that doesn't leave it so open to undermining our 50%?What is the name of your state (only U.S. law)?