Hey guys,
so I took the template contract from myflashstore and edited it abit so that i get royalties after someone exceeded the limit of 2000 copies and wanted to know if the contract works or if I could make it any better
THIS AGREEMENT, made and entered into on the %MFS_ORDER_DATE% serves as a legally binding contract between Tyron Selvan ("Licensor") and %MFS_CLIENT_NAME% ("Licensee"). This agreement grants the Licensee non-exclusive rights to the instrumental named "%MFS_BEAT_NAME%" ("Instrumental").
Master Recording
The Licensor hereby grants the Licensee the right to record vocal and/or instrumental synchronization to any or all parts of the Instrumental. The Licensee understands that their non-exclusive usage of the Instrumental is limited to one new composition and if the Licensee wishes to use the Instrumental in other new compositions, then the Licensee must obtain another license to use the Instrumental from the Licensor. The Licensee also agrees to refrain from editing the Instrumental that is being licensed in this agreement, by removing any melodies, instruments, drum programming or sounds that are contained within the Instrumental.
Profitable Distribution
The Licensee is limited to distributing one (1) version of the Master Recording for profitable use. If The Licensee exceeds the distribution limit of two thousand (2000) copies of the Master Recording, which can be distributed on any kind of recording media including, the Licensor has to be paid 50% in royalties with any money made in further sales.
Ownership
The Licensor maintains 100% full rights (copyright and ownership) of the instrumental, and can continue to sell it non-exclusively and/or exclusively. The Licensee has neither the right nor authority to sell or license the rights to the Instrumental whether in whole or part to any other party. In the event another individual purchases exclusive rights to your licensed Instrumental you will retain your non-exclusive rights under the limitations listed in this agreement and until these terms have been fulfilled.
Credit
The Licensee must give production credit to the Licensor for any and all distributed material. This can be done verbally (through recorded vocals on the Master Recording) or written in or on the CD booklet or outside cover. The Licensor reserves the right to keep an audio signature at the beginning of all non-exclusive instrumentals.
By receiving this contract via email, you automatically agree to the terms stated above and gain non-exclusive rights to the Instrumental.
so I took the template contract from myflashstore and edited it abit so that i get royalties after someone exceeded the limit of 2000 copies and wanted to know if the contract works or if I could make it any better
THIS AGREEMENT, made and entered into on the %MFS_ORDER_DATE% serves as a legally binding contract between Tyron Selvan ("Licensor") and %MFS_CLIENT_NAME% ("Licensee"). This agreement grants the Licensee non-exclusive rights to the instrumental named "%MFS_BEAT_NAME%" ("Instrumental").
Master Recording
The Licensor hereby grants the Licensee the right to record vocal and/or instrumental synchronization to any or all parts of the Instrumental. The Licensee understands that their non-exclusive usage of the Instrumental is limited to one new composition and if the Licensee wishes to use the Instrumental in other new compositions, then the Licensee must obtain another license to use the Instrumental from the Licensor. The Licensee also agrees to refrain from editing the Instrumental that is being licensed in this agreement, by removing any melodies, instruments, drum programming or sounds that are contained within the Instrumental.
Profitable Distribution
The Licensee is limited to distributing one (1) version of the Master Recording for profitable use. If The Licensee exceeds the distribution limit of two thousand (2000) copies of the Master Recording, which can be distributed on any kind of recording media including, the Licensor has to be paid 50% in royalties with any money made in further sales.
Ownership
The Licensor maintains 100% full rights (copyright and ownership) of the instrumental, and can continue to sell it non-exclusively and/or exclusively. The Licensee has neither the right nor authority to sell or license the rights to the Instrumental whether in whole or part to any other party. In the event another individual purchases exclusive rights to your licensed Instrumental you will retain your non-exclusive rights under the limitations listed in this agreement and until these terms have been fulfilled.
Credit
The Licensee must give production credit to the Licensor for any and all distributed material. This can be done verbally (through recorded vocals on the Master Recording) or written in or on the CD booklet or outside cover. The Licensor reserves the right to keep an audio signature at the beginning of all non-exclusive instrumentals.
By receiving this contract via email, you automatically agree to the terms stated above and gain non-exclusive rights to the Instrumental.