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Re: IMPORTANT: Looper CD final word
At 10:41 PM -0800 12/4/97, doug pieren wrote:
>You might want to consider drafting some type of agreement for
>participants to sign which spells out how things are going to work.
>While this may be very unpopular with some, it really helps to avoid
>misunderstandings and bad feelings down the road. I work as a contracts
>administrator and put something together for the above project and would
>be willing to do the same here if you want to go in that direction.
Oh, yes! excellent. I was going to say something similar.
It occurs to me that if each of the 10 or so people on a given cd project
have a quantity of cds they are trying to sell, and the primary market for
these is probably all of the other people on the Looper's Delight list,
we'll have some serious competition! There'll be price wars, dirty sales
tricks, mergers and acquisitions. Horrors!
So I had this idea: Each cd project could be considered a partnership. The
participants pay some set amount of money which buys them an interest in
the partnership and capitalizes the project. Additional partners would be
the person contributing their services for production, and the Looper's
Delight site itself which contributes its name and reputation and
facilitates it all. When the cd is made, each partner gets some smaller
number of free cds than has been proposed so far, and the rest are sold
from a single vendor. (the Marathon records website appears like a good
way) Proceeds from the sales are then divided among the partners equally,
hopefully paying back their investment and making them a little extra. This
way, everyone profits equally from the sales, there is no confusion about
what to do if more or less cds are sold, and all can happily work together
to promote and encourage sales of the cd. I guess the number of free cds
for each participant could be areed upon by the partnership.
So your contract experience could come in very handy for drafting some
standard partnership contract for these projects.
And it's suddenly dawning on me that Looper's Delight may have to become
something more than just a name on a website if it is going to be receiving
money, or I'll be getting a bit more friendly with the local IRS agents
than I care to! hmmmmm.....
So what do you think, would this be a useful idea? It seems like a more
appropriate and legit business approach for this.
Kim Flint | Looper's Delight
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