"what do I need to do in order to protect the rights of the beat" I also seek for the answer of this question. Others depend on your will. Don't you know anything about licenses or haven't you seen any beat selling page on any website? If it is so, you're missing too much things. If you don't have a website or you won't put your beats on a beat selling website (such as beatstars) you can sell your beats through e-mail. First get the money, then send the beat and agreement. .wav or .mp3 depends on what your contracts say. Some producers send both in exclusive license, some send them in premium and it goes on like this. But normally you should give them .mp3. You cannot seek for more money when the song makes money. You just sell it, they get the license and the beat. If you're not so serious as big companies (such as Strange Music, Shady Records etc.) then even if you grant them they can sell up to 2.500 copies, they can sell more than that and they can even put the song in their album. You must pour some mad money (for lawyers and other things) to protect your beats. Tags depend on what license you grant them. It's even a better way than laws lol. If someone wants to make money over his/her song and the audience hears that tag, they will say who the hell is he supposed to be, he can't even afford a proper license bla bla.
Also, did you buy your DAW and the plugins you have used? Don't worry I won't be rat and inform the police. I hate to ruin someone's dream. I just wondered. You don't need to buy a DAW license though there's a way to evade it. And since no one questions about the plugins, don't bother yourself buying them. But when you have enough money be a good guy and buy them both plugins and DAW.
If anyone wants to be of help, please check out my thread on this forum (music industry legal marketing). I really need it's answer. I can't send the link because I don't have enough posts. But please check it out. (It's title is validity of my agreements)