Start Your Music Group With a Pre-Incorporation Agreement


A musical group should start with drawing up documents to form a corporation, limited liability company, or other organization to limit personal liability and use tax advantages not available to individuals and partnerships. But what if your group members are unsure if they want to associate together in the music business? Do not just move forward without getting something in writing. Otherwise you will probably never get the group members to later commit themselves in writing to form the official corporation. Then you will have unclear where you stand as to songs written by group members, performances recorded, concert earnings, merchandise revenue, and many other issues. If you do not have the time or ability to form a group corporation, consider drawing up a pre-incorporation agreement.

A pre-incorporation agreement can serve to record the member’s intent to incorporate and a basic understanding of how the corporation will operate once formed.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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