Many musicians go into music at least partly to avoid the business world. However, successful bands generate a lot of money. That money will go to someone--whether it be the band members, band members' friends, band members' managers, or someone else. Questions of money, in many ways, become questions of business.
Leon Bass advises that when they reach a certain point, bands should realize this and start treating themselves like a business. Band members should draft an agreement before a lot of money is explicitly at stake to settle issues which could cause serious problems later. Bands (or even solo performers) should also select the business form best for them--that is, it might be best for musicians to incorporate. Mr. Bass advises on all these matters in this article.
- Summary by FizzLaw Team
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Takin' Care of Business: A Band's Basic Business Guide