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    Chapter 55 – Conflict of Interest

    “I would never do that. It’s my sister and my friends.”

    “Do you have a written contract with them as their manager?”

    “No, of course not.”

    “You should.”

    “Look, I’m not interested in profiting from their talent. I have my own job and make a decent salary. All of the money I put up for them, I have no intention of requesting reimbursement. I’m simply there to make important business decisions for them and help them out professionally.” Bette said with conviction.

    Joyce stared at Bette for a moment, impressed with her altruistic sense of responsibility.

    “Then they are extremely lucky to have you as their manager. In this business, it’s always about the money, not about the talent.”

    Bette breathed deeply, happy that at least she couldn’t get arrested for booking shows for the Stouts.

    “All the same, it’s important for them to have an agent to get them gigs.”

    “So then I should have them sign with Jodi Lerner?”

    “Oh, I didn’t say that.”

    Bette was perturbed with the game of semantics the lawyer had been playing since her arrival at the office. Joyce recognized Bette’s frustration and laughed again before continuing with the consultation.

    “I would advise against signing any contract in which a recording contract procured by the agent or agency is subject to compensation for said agent or agency. Hell Bette, you can get them a record deal if you wanted to, but I would advise against that as well.”

    “What does this contract specifically provide for in terms of a recording contract?”

    “Any recording deal signed as a result of agency negotiations gives the agency their 15% commission in its entirety from the artist’s advanced funds.” Joyce paused, but held up her hand before Bette had a chance to ask what it meant. “Basically, if Ms. Lerner negotiates a $1,000,000 record deal over two years, and the label plans on advancing $150,000 of that million to the band at the time they sign the contract, then the entire amount belongs to her.”

    “Jesus.” Said Bette with a furrowed brow.

    “Quite frankly, it’s an inherent conflict of interest. Lerner would be negotiating the contract on the band’s behalf, but she’s also negotiating her own fee as a result.”

    “What’s good for the goose is good for the gander, right?”

    Page 2 of 3123

    Comments

    1. You did Joyce justice. Fun to read :-)
      That were some interesting legal details of the music business. I’m impressed!

      Bette’s talk with Joyce was an eye opener for her on agent’s commision. Or on Jodi’s true interest in representing the band.

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