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Partnership Agreement for Music band

  • 01-11-2010 11:03pm
    #1
    ChickanSnoup
    Closed Accounts Posts: 9 ✭


    Hi,

    Can anyone recommend a solicitor who deals with Partnership agreements for music bands? Also if anyone knows the approx cost?

    Thanks

    CS
    Tagged:


Comments

  • #2
    johnfás
    Registered Users, Registered Users 2 Posts: 1,342 ✭✭✭johnfás


    Consider a company as an alternative legal structure.


  • #3
    maidhc
    Registered Users, Registered Users 2 Posts: 7,722 ✭✭✭maidhc


    johnfás wrote: »
    Consider a company as an alternative legal structure.

    Why?


  • #4
    johnfás
    Registered Users, Registered Users 2 Posts: 1,342 ✭✭✭johnfás


    Depends on how serious the band is of course, but lots of reasons. If they were to enter into contracts (eg equipment hire) they would have greater personal legal protection if formed as a company. It would also be easier to deal in parts of the band if you were formed as a company - eg sell a stake in the band to somebody who invests in it in order to give you a break.

    If you are functioning by agreement you have an informal partnership anyway. A written partnership agreement is not necessary, though obviously incredibly desirable prior to a dispute arising as to the terms of such an agreement.


  • #5
    Reloc8
    Closed Accounts Posts: 2,857 ✭✭✭Reloc8


    Much more complicated with a company, and also there will be administrative costs in keeping it going - filing annual returns, corporation tax, keeping records of board meetings, managaing company accounts.

    And brilliantly, if the company goes into an insolvent liquidation due to mismanagement, the Directors and officers can look forward to applications against them in the High Court by the Director of Corporate Enforcement.

    To be honest I think a start up band has enough to be doing & paying for without forking out for that, and causing themselves that stress or hassle.

    And in terms of legal protection, no one sensible is going to enter into a contract with a company of this nature (i.e. one which is a front for a band) without personal guarantees.

    Can't see any benefit to it at all except in the theoretical sense.


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