You should have an accountant and a lawyer in place.
While both of the trade organisations above can offer some free legal advice in a very general sense, you will still need someone to draft your standard agreements and give you advice should you run into difficulties.
Regardless of your attitude towards ‘business’, your record label is a business and you will have tax and reporting obligations. A good accountant can ensure you remain compliant.
Of course, both of these services can be expensive and so should be used sparingly. Don’t get your lawyer to draft EVERY agreement. Get them to prepare a template and issue your own agreements based on this. Also, never use your accountant as your book keeper. Maintain your own books and records, which you can pass on to your accountant for verification and filing.
We have secured a free initial phone consultation and preferential rates for our distributed labels with our own lawyer and accountant.
Penny Ganz – Ganz Legal – email@example.com
Nick Lawrence – NWN Blue Squared Ltd – firstname.lastname@example.org