LLC Registration Strategy

• How to register an LLC: it is easier than you think to get your company legally registered, and there are HUGE advantages to having an LLC, which will protect you and your assets from personal liability.  

• How to obtain an Employer Identification Number (EIN): In order to open a bank account (which is the next step), you will need an EIN. You will also need an EIN for tax purposes. 

• Why you need a business bank account: you gain HUGE advantages when you set up an LLC for your record label. With your record label should come a record label business account, and all record label funds and expenses should flow in and out of your business bank account. 

• Why you need meeting minutes: we will explain the benefits of having formal record label team meetings, and taking meeting minutes to document those meetings. 

• Why you need an Operating Agreement: An Operating Agreement acts like a partnership agreement between you and the members of your record label. It is essentially the rules of the road for your company, members, and guides how your record label will work.
   

Next, we'll dive into your Team Strategy.

Your Team Strategy

This is about building a team that will help your record label become a success. I will walk you through what to think about when hiring staff, and when is too soon to give away ownership in your company, including:

• Contractors v. Employees: We discuss the key difference between a contractor versus, an employee, why you typically want to hire contractors, and we even include a standard Contractor Agreement template for you to use for your company.

• Accountants: Having someone to manage your money and books is a critical part of any business, but particularly when it comes to music royalties and paying out artists.

• Label Managers: You need someone to take care of the day-to-day operations of your record label. That may be you at first, but you will likely move someone else into that position at some point. Having the right label manager can make a big difference for your company.

• Attorneys: Having a record label attorney is an essential step to ensuring you stay protected every step of the way. You will do deals with other companies, and having an entertainment attorney in your corner can save you from a lot of headaches down the road.

• Investors: knowing when, and when not, to take investor money is sometimes more important than getting an investment opportunity. Not all investments will be good for your record label, and we explain what to watch out for when you are looking for investment dollars.
  
  The stronger your team is, the faster you will be able to scale your record label.

Once we've discussed your team strategy, then we shift gears to focus on your branding strategy. 

Your Branding Strategy

This is your way to set your company apart from other record labels. You need to understand the importance of branding and trademarks, and how you frame the image of your record label. 

So we'll talk about: 

• Your record label name: We'll show you how to search for your desired record name, or to confirm that the name you've chosen has not already been taken by someone else. 

• Name Strength: We will help you understand the difference between a strong and weak record label name, and how that will likely impact your future attempts to get your name trademarked. 

• Branding Your Record Label: Once you know what to call your record label, you can start building the good will of your company, and investing in the branding and awareness of your business.

But it doesn't stop there, because then it's about shifting gears and protecting the copyright in your music. And that leads us to the next module...

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Copyright Protection

In this module, we get into the "how-to" specifics of getting copyright protection for your music. 

You'll discover: 

• The Importance of Copyright Protection: record labels need to ensure they own their music, and have 100% of the copyright as well. We will teach you the importance of protecting your music's copyright. 

• Copyright Myths: there is a lot of misinformation and misunderstandings when it comes to copyright, including the "Poor Man's Copyright." We clear up these myths, and teach you what you need to know to stay protected. 

• Copyright Applications: we will show you how to file your own copyright applications through the Library of Congress. You will be able to make filing for copyright protection part of your regular business practice, which will put you in the strongest position to protect your company's music. 

Once you know how to file your own copyright applications, you are ready to move onto the next step, which is learning about cover songs and sampling. 

Cover Songs and Sampling Strategy

Your artists will want to do cover songs, or to use samples in their music. You need to know how to legally do both. 

In this section, we walk you through... 

• Cover Songs: you will need a mechanical license in order to have your artist release a cover song. The good news is that the process is very simple and inexpensive. We will show you where to go, how to get a mechanical license, and we will also show you any restrictions you should be aware of. 

• Samples: samples are commonly used in the music business, but rarely cleared properly, which can result in take-down notices, and potentially even lawsuits down the road. If your artist wants to sample other people's music, you need to know how to clear the samples, and we will show you how. 

As your music catalog continues to grow, you will be able to make serious money licensing the music to TV and film, which we discuss in the next module. 

TV & Film Licensing Strategy

This module is about how to start generating some serious licensing fees for getting your artists' music placed in TV and major films. The licensing fees can be anywhere from $50,000 to $100,000, and this is a major way to make money for your record label. 

But this means understanding the following:

• Licensing Agreements: you will need to understand how licensing agreements work, and how to ensure you are not losing out on extra licensing fees that are common for these types of deals. We specifically include a Licensing Agreement as part of this course, so the heavy lifting has already been done for you. 

• Music Libraries: you can also earn licensing fees by licensing your music to music libraries. We explain how this works, and give you some companies to potentially work with as your continue to grow your record label's catalog. 

• Music Supervisors: the relationships you will build with music supervisors will be some of the most valuable to your record label. Music supervisors are the ones who oversee the placement of music in TV and films, and music supervisors tend to work on different shows and projects throughout their careers. If you have an existing relationship with a music supervisor, and they are aware of the type of music your record label typically signs, you will get that call when an opportunity comes up. 

• Licensing Agents: it is common that a record label would have a dedicated person to act as the company's licensing agent. This person works to create licensing opportunities for TV & film with your record label, and can help create big opportunities for your artists. 
  

My goal is that you can create strong revenue streams through licensing music to TV and film, which is not only good financially for your record label, but can mean HUGE exposure for your artists, resulting in more streaming revenue, live event audiences, and merchandise sales.