Aug 30, 2019
The Joint Venture Agreement (JVA) was designed for musicians who are part of a band doing a recording project together. This agreement allows musicians to set all of the terms of the recording without any money changing hands.
So you may wonder, “What is the value if no money is involved?”
First and foremost, by signing the agreement, you now have an AFM-backed recording, protecting it from any misuse. Translation: if any entity uses any portion of the recording, in any production whatsoever, the AFM will pursue the user for payment on behalf of all musicians named on the agreement.
Secondly, before the project begins, while everyone is still friends, all terms and conditions are predetermined by each band member. This avoids possible strife among ex-band mates, should the band one day dissolve.
As you know, the aforementioned strife often occurs when some type of asset is involved, particularly a recording which theoretically lives on forever, creating a potential source of income. With the JVA, payment of funds is spelled out in a legal document signed by all participants.
Finally, with the JVA, there is literally no good reason to leave any future projects uncovered by an AFM agreement! Please call the office if you have any questions or you would like to place a future project under the JVA.