Agreement where an Artist assigns both recording and publishing rights to a label in exchange for an advance, royalties and a commitment from the label to fund and release the recordings and procure synchronisation and performance licenses for the compositions.
Recording rights are assigned for the length of copyright (50 years after release) and Publishing rights for a rights period of fifteen (15) years. The label will have six (6) months from delivery of the songs to procure a release of the recordings and performance and/or synchronisation usages for the Compositions. Failure to do so will allow the artist to claim copyright back.
Agreement is exclusive in relation to the recordings and compositions being assigned but non-exclusive in respect to artist as a recording or performing musician meaning that artist is free to assign copyrights not covered in this agreement to other labels.
Useful for labels looking to acquire both recording and publishing rights from artist for particular songs using one agreement.