Far too often, the fun creative vibe that moves artists and musicians to collaborate on brilliant work… overlooks the need to have the terms of the deal put into writing and signed. GET IT SIGNED FOLKS!
If you are writing music together and agree to split the royalties 50/50 –write it down, date and sign it! If you are a freelancer submitting sketches to a toy producer – write down a few simple terms as to who owns unused submissions, date and sign it! Similarly, if your business is membership driven – write down your membership terms, date and have members sign it!
Even if the agreement seems obvious and understood by everyone involved, take 5 minutes to write it down, date and sign it!
Just last week, news came out that a renowned art and decorating extravaganza that takes place annually in NYC and makes over $1 million …was postponed by 6 months because the organizers never signed an agreement guaranteeing them to use the designated show space. Consequently, the show space was sold out from under them and they were back to square one. They thought they had a deal… but they didn’t, because it wasn’t signed. Keep this from happening to you. Get a signature to seal the deal!!