Once you find the right people to work with and you agree on a name, its time to establish who owns what.
Once you have a clear understanding of who owns what, it is time to agree on who DOES what, when, how, why, where, who and for how much. It’s time to set up the agreements that will underpin all your Music Business activity. *** Make sure that you incorporate Income Split and Rights Assignation Agreement in the Band Member Agreement covering all original material composed, produced, recorded and performed.
ABN and GST
Shop around and find a good Accountant who understands the Music Industry. Get the best advice for the right Legal Entity and GST registration status that fits in with the long term vision for the band as well as the individual band members and their own personal finances. *** Make sure that you apply for the Tax File Number for your Legal Entity at the same time as the ABN
Register for the Following:
To ensure you can manage and protect your business, you need to register for the following (not limited to)
Regulations, Codes and Licences
Branding and Marketing
Reserve, Install, Activate, Manage, Strategize and Roadmap your Brand and Marketing Systems: (check out our many blogs for guidance and direction)
Set up your Music Business Management Systems
This is where you establish your advances, activations, delivery, management, developmen, strategy and planning of your Music Business universe. If you need help with this, you can apply to work with us in our Vector™ program (click here)