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Most music industry companies are primarily concerned about whether the band ________________ .

will make them a lot of money

Debts or money that you owe

Liabilities

The majority of bands have written internal agreements. (T/F)

False

Sometimes, the process of putting together an internal agreement leads to the break-up of the band. (T/F)

True

Your band formed an LLC last year. The band LLC needs a loan to buy a van for touring but the bank says it needs you to personally guarantee the loan. This means you are __________________________________ .

making your personal money and property available to pay the loan if the band LLC doesn't pay it.

Most bands qualify as this business entity by default

Partnership

Covers damage or loss of band property

Property Insurance

Covers damage to other people or their property

Liability Insurance

Covers damage caused to others or other vehicles

Car Insurance

Accounts _________ refers to money that the band owes to others. After it has been paid, it is considered a business expense.

Payable

Money received from crowdfunding is considered a gift so you don't need to pay taxes on it. (T/F)

False

It's a good business practice to maintain a business bank account for the band that includes a debit card. (T/F)

True

Why should a band create and maintain a detailed inventory of individual and group property?

To document and list the value of their equipment.

One example of the type of information that you should include in your band's inventory is ______ .

Value

Most music equipment theft is planned in advance by organized groups of criminals. (T/F)

False

A beginning band could decrease their chance of losing money on their tour by researching their estimated costs for transportation, gas, tolls, food, etc. (T/F)

True

One reason for having a 5% contingency worked into your touring budget is ___________________ .

in case your estimated costs are off

Unless the band is a corporation, all band members must pay self employment taxes when their net band earnings are $400 or more. (T/F)

True

The IRS (internal revenue service) allows musicians to deduct _________ and _________ business expenses.

ordinary & necessary

Paid on net income over $400 for sole proprietor ships and LLCs.

Self-employment tax

Paid based upon employees income.

Payroll tax

May need to be paid at local or state level for sales of products.

Sales tax

Paid on all income (minus deductions) and must be declared.

Income tax

A song composition copyright can be bought or sold. (T/F)

True

Last year, you sold your catalog of song compositions and assigned all copyrights to the buyer. In a few decades, the Copyright Act give you the right to get your copyrights back through a ______________.

notice of termination

In the absence of an agreement, when two co-writers are in a dispute over how to split their songwriting profits, the court will ____________________________ .

presume both contributed equally and split the profits equally

When there is more than one writer collaborating on a song, and there isn't a written agreement among them, U.S. Copyright law would classify their relationship as ___________.

co-owners

If you write a song today (and you do not have any written agreements affecting its rights) the copyright will last for your lifetime plus ________ years.

70

A license is a written temporary grant of permission. (T/F)

True

You can file a copyright infringement lawsuit without a copyright registration if you have your original date stamped work files to show when you wrote the work. (T/F)

False

Songwriters always stop earning money on their songs when they sell them to a music publisher. (T/F)

False (usually they continue receiving royalties under the term of their contractual agreement)

When can part of your song be copied and it not be considered copyright infringement?

When the portion copied wasn't protected under copyright.

Used when two or more people write together to decide percentages and rights.

Collaboration agreement

Used to decide percentages and rights when a band jointly writes songs.

Partnership agreement

Used when you want to record a cover song.

Compulsory mechanical license

A mechanical license is not needed when you are giving away the music for free. (T/F)

False (the law requires a license for each copy - unless the rights owner grants permission for otherwise)

If you are making and releasing the first recording of a song to the public, you cannot use a ____________ license alone to do so.

mechanical

Copyright registration is not necessary to protect your songs. (T/F)

True

The _______________ sets the per song statutory mechanical license rate for a song under five minutes.

copyright royalty board

To determine the mechanical license fee for a song over five minutes, multiply the per minute statutory rate by the rounded up length of the sound recording and then ___________ by the number of copies being made.

multiply

A _______ license will be needed to use your song as the title song for a TV series.

sync

Name the exclusive right that the license to use a sample from an existing sound recording comes from.

Derivative work

A _____________ license is needed when your band's recording of a Queen song is going to be used in a film trailer.

master use

Mechanical royalties are payments to a _______ owner for the right to make copies of the song.

song

What type of license is associated with "using a composition in connection with audio visual works"?

synchronization license

What type of license is associated with "releasing a cover song digitally"?

mechanical license

What type of license is associated with "using your recording of a cover in a television show"?

master use license

What type of license is associated with "using part of your song in another person's work"?

derivative works license

What type of license is associated with "you do not need to ask permission"?

compulsory license

What type of license would be associated with "a clothing store plays music to entice customers to come in"?

public performance license

Name the type of copyright filing: "one or more works, co-owned with author or owned by someone else"

online standard application

Name the type of copyright filing: "one work, created and owned by the author"

online single application

Name the type of copyright filing: " application processing will be expedited for compelling reasons for hundreds and hundreds of dollars"

special handling

The SIX exclusive rights under U.S. copyright law are:

1. reproduction

2. derivative works

3. distribution

4. public performance and composition

5. public display

6. public performance of sound recording by digital audio transmission

A master use license is permission granted to use a part of or an entire master recording. (T/F)

True

Radio and television stations must pay for the right to play a song. (T/F)

True

A Music Publisher can join multiple PROs. (T/F)

True (a music publisher must join the same PRO/s as the writer/s they represent because they are collecting a publishing share of that writer's revenue)

Name the type of license The Harry Fox Agency administers on behalf of its clients

Mechanical

A _____________ is needed to use a composition in a film project.

sync license

ASCAP, BMI, and SESAC collect and pay performers their royalties for the public performance of their compositions. (T/F)

True

ASCAP monitors and collects revenue for the public performance of sound recordings on behalf of record labels. (T/F)

False

If you do have a publishing company set up, it is likely that a record label will take _____ percent of the publisher's share.

50%

If you do not have a publishing company set up, it is likely that a record label will take ______ percent of the publisher's share.

100%

In order to collect performance royalties, songwriters and music publishers must register with a ___________________ .

performance rights organization

What type of license would be associated with "release a cover song on CD"?

mechanical license

What type of license would be associated with "using a composition in connection with audio visual works"?

synchronization license

What type of license would be associated with "using your recording of a cover in a video game"?

master use license

What type of license would be associated with "using a sample from another person's work in your song"?

derivative works license

Songwriter keeps 100% copyright ownership and grants the publisher the right to administer the catalog outside of the U.S. Publisher receives a percentage of income from paid licenses.

sub-publishing

Songwriter may receive an advance and grants the publisher 100% copyright ownership and control of all songs they write during the contract term. Songwriter receives half of all income generated (after recoupment).

full publishing

Songwriter keeps 100% copyright ownership, seeks their own licensing opportunities and takes care of all business issues.

self publishing

Songwriter maintains a percentage of copyright ownership and grants the publisher 100% control. Writer receives 75% of the overall revenue.

co-publishing

You are interning at a small film studio. The director wants to use the existing sound recording of a hit song in her TV show and has assigned you the task making that happen. What TWO licenses do you need to get?

master use & sync licenses

Registration of a domain name is not the same as registering a trademark. (T/F)

True

I can get a federal copyright registration for my band's logo. (T/F)

True

It is possible for a trademark to last over a hundred years. (T/F)

True

Owning a trademark doesn't give the owner a specific set of rights. (T/F)

True

The symbol ® represents what?

federally registered trademark

What's the difference between a trademark and a service mark?

A trademark is used on goods or products, a service mark is used in connection with services.

As soon as you ______________ it is your trademark.

publicly use the word or symbol

I can get a federal trademark registration for my band's logo. (T/F)

True

This rule is the bottom line question in trademark disputes

likelihood of confusion

You can get around trademark law issues with names that sound alike or have the same meaning by spelling it differently. (T/F)

False

Which is the best type of name for your band?

Names that are unique e.g. made up and not in the dictionary

Band names are protected under trademark law. (T/F)

True

I'm looking for a name for my new Boston based band. If I do not find it listed in the United States Patent and Trademark Office (USPTO) trademark database, it is safe to use. (T/F)

False

What legal issue is of primary concern to an artist in the recording studio?

Copyright ownership

A studio musician who contributed to your song and recorded their part could claim to be a coauthor of your song composition and sound recording. (T/F)

True

What does "recording on spec" mean?

The studio will allow you to record for free or at a reduced rate

The studio, by recording your music, automatically obtains legal rights to the music. (T/F)

False

SoundExchange monitors and collects royalty __________________

payments for non-interactive streaming of sound recordings

It's never a problem if you sample your self-releasing band's own sound recordings. (T/F)

True

The steps for clearing a sample in the correct order

1. Locate the music publisher and get permission

2. Locate the owner of the master recording and ask permission

3. If owner of master says no, record your own version

There's no requirement under Copyright law to get written permission to use recordings from musicians that play on your recording session. (T/F)

False

If your band is signed to a record label, your producer agreement will state that the label owns the rights to the recording. (T/F)

True

A producer is usually considered a coauthor of a sound recording due to their work performing and mixing the track. (T/F)

True

To avoid financial problems in the studio, your band needs what three things?

1. a realistic budget

2. techniques to get the most out of each dollar spent

3. someone to enforce the budget

I should plan to personally negotiate deals with each online music site I want my music to be offered on (e.g. iTunes, Amazon, Pandora, etc.). (T/F)

False

I should sign up with both CDBaby and TuneCore so that I can make the most money possible from my album. (T/F)

False

A copyright notice is not required to be posted on your album, but it is strongly recommended. (T/F)

True