Do you want to know the legal requirements you need to starting a record label? If YES, here is a checklist of record label licenses, permits & insurance.
Having provided you with a:
- Record Label Industry Overview
- Market Research and Feasibility
- Record Label Business Plan
- Record Label Marketing Plan
- Record Label Name ideas
- Record Label Licenses and Permits
- Cost of Starting a Record Label
- Record Label Marketing ideas
We will consider what it takes to get operating license and permit for your record label including insurance coverage and intellectual property protection.
Starting a Record Label – Licenses, Permits & Insurance
- The Best Legal Entity to use for this type of business
Depending on the part of the world you intend situating your record label company; if you love want to start this type of business in the United States of America or Canada, the best legal entity to use is perhaps a Limited Liability Company (LLC). You can also consider starting a corporation; it all depends on your business vision and mission.
- Do You Need a Professional Certificate to Run a Record Label?
Starting a record label company does not need a professional certificate. Any entrepreneur who has an interest in music can launch his or her record label company without acquiring any special certificate. If you have a music and business background, coupled with determination, you can do well in this line of business.
The List of Legal Documents You Need to Run a Record Label Company
These are some of the basic legal documents that you would need to successfully run a record label company in the United States of America:
- Certificate of Incorporation
- Business License
- Business Plan
- Non – disclosure Agreement
- Employment Agreement (offer letters)
- Operating Agreement
- Insurance Policy
- Employees Handbook
- Contract Document
- Trademark registration for your logo
- Tax Payer’s ID number
Getting Insurance for your Record Label
Insurance and record labels to a very large extent work together. This is because of the point that one have got to stay insured at all times because of some unforeseen instances. Here below, are some of the insurance covers that an average record label company should have;
- General insurance
- Health insurance
- Liability insurance
- Workers compensation
- Overhead expense disability insurance
- Business owner’s policy group insurance
Getting Intellectual Property Protection for your Record Label
If you considering starting your own recording label, then you should be prepared to secure your intellectual property. If the music release under your record label is not protected by the law, then you should be ready to share your income / profits with music pirates. All over the globe, music is being pirated with reckless abandon, and it is the protection by law that helps to checkmate this.
Music can be pirated swiftly, however, when pirates know that music under your label is protected by the law, the tendency for them to steer clear your musical work will be high. It is for this reason that you have got to ensure that you legally secure your intellectual property.
It is also important to ensure that the logo for your record label is secured and legally recognized as part of your company property. This would entail that you have it trademarked. Of course, it is as important as securing a copyright for each new song that is being produced under your label.
This is so because your logo is the visual identifier of your record label, hence the name “Record Label”. Once you are successful with the required legal paperwork filed and your record label name and trademark secured, then you can go ahead to freely produce musical CDs under your new record label company.