Navigating Talent Agreements
Know Before You Sign
Your excitement is palpable. You have just been presented with a talent agreement and you are already envisioning the day when the world will know your name; you just have to stay the course. However, before you sign on that dotted line, make sure you understand these essential clauses to protect your interests!
1. Scope of Services – Make sure the agreement clearly defines the specific services you will provide. Know what is expected of you and ensure there are no surprises.
2. Compensation & Payment Terms – Show me the money. Understand how much you will be paid and when. Look for clarity on fees, payment schedules, and any reimbursable expenses.
3. Intellectual Property Rights – In entertainment, copyright is the MVP (Most Valuable Property). Know who owns the rights to your work! Further, ensure that the contract specifies how your name, likeness, and creations can be used.
4. Termination Clause – This is your escape from the agreement so make sure the clause outlines how either party can end the contract. Additionally, be aware of the conditions that could lead to termination and any notice requirements.
5. Confidentiality & Non-Disclosure – This clause protects sensitive information. You should ensure that the agreement includes a confidentiality and non-disclosure provision to safeguard your creative ideas and strategies.
Now you have been armed with this knowledge, protect your passion and get the most out of your agreements! Also, don’t forget to stay informed and advocate for yourself!
While you are creating your legacy, remember that a comprehensive estate plan will ensure that your legacy lives on long after you are gone. We can help you get a plan in place. Book a call with us today to learn more. Use this link to schedule a complimentary 15-minute consultation.
