Help with my record contract proposal!!

[scandal]

Ok, there is this independent label interested in signing me and my homie as a group. The contract states that we will get no advance for the first album (which ima try and argue to get at least a little advance.) and 25% of wholesale for our royalties. it also says that the label will own the masters and handle our publishing, but we will own 75% of the publishing. Is this an ok deal or are they tryin to screw us? Also this is what it says about recoupables:

• Recoupables: All monies spent on the project will be considered recoupable. This is including but not limited to production, marketing, manufacturing, and 75% of promoting.

is this normal for an independent label? Thanks in advance.

 

[Relic]

They are a small independent and it sounds like you are one of if not their first project.
Just to jump start that may cost as much as $20,000.
I would be looking at prior projects they have done(if any) and see what their street team is like.
Who does their marketing?
It is not uncommon for a label to want to "Handle" your publishing.
I am setting up my own publishing cuz thats your baby right there if you dont get paid from anything else its gonna be your publishing.
I would want ownership of the masters to revert back to me at some point.
I would try to get that 25% of wholesale to turn to retail.
There people on here that know vastly more than my but thats my 2 cents.
I dont think they are trying to royally screw you but they are going to look out for #1 first.
Watch there are some cats here that will school you here in a bit...

 

[5th Sequence]

wish I could contribute but I cant wait to see what the other people post as well.

Subscribing.

 

[shadeed]

Ok, there is this independent label interested in signing me and my homie as a group. The contract states that we will get no advance for the first album (which ima try and argue to get at least a little advance.) and 25% of wholesale for our royalties. it also says that the label will own the masters and handle our publishing, but we will own 75% of the publishing. Is this an ok deal or are they tryin to screw us? Also this is what it says about recoupables:

• Recoupables: All monies spent on the project will be considered recoupable. This is including but not limited to production, marketing, manufacturing, and 75% of promoting.

is this normal for an independent label? Thanks in advance.

Get -A- Lawyer. No contract EVER written was ever intended to benefit you, the artist--
seek legal counsel or you could wind up bound to them dudes for years thereafter.

Advice is free, consequences you pay, take it from me!

 

[StressWon]

I agree wit Sha, definitly get a lawyer. I almost got jacked in 94.(writing credits) And fuck an advance man,,,,that's the worst way to go. Seruosly, this is how artists get into debt.

 

[Relic]

See? Watch, I knew these guys would get in here, Sha (as usual) has the best advice on the whole thing which is get a lawyer.
You should also buy the book "Everything you need to know about the music business".
This book is great at helping you gain an understanding about terms and contract and stuff so you wont just sit there with a glassy eyed stare when people start talking.
As you can see from my above post I havent read mine in awhile.heheh.

 

[scandal]

already covered. Had a lawyer look at it and basicly told me everything the contract said in plain english. He gave me a ffew tips, but I just wanted to get your guys opint of view.