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The
Legalities of Becoming Your Own Record Label by: Ty Cohen
There are steps you must follow in order to successfully
start your own record label. You absolutely must have
a business plan that shows you know how
to start and run your own record label and some talent.
But there are also legalities that you must follow. As
soon as you are able, you need to find yourself a lawyer
that specializes in entertainment law. Then you need to
follow certain steps to establish your company legally.
If you really want to know How
to start an independent record label then continue
reading. First you need to formally establish that you
plan to do business under the title of Record Label. This
is your first step to professionalism because it gives
your company a name and title, something to build on.
Have you chosen a name? Most likely if you are interested
in how
to start a record label then you have a name in mind.
If not, be creative and remember this is going to be your
businesses name forever so pick something with some staying
power. Be careful not to choose a name that is not already
trademarked because there are intense legal issues there
that you wouldn’t want to get involved with. Once you
have selected a name, then you must file a fictitious
name statement. This is also referred to as a D.B.A. or
Doing Business As license. This will officially give you
the right to do business under your company name. Now
you can choose the type of business you want to run. You
have sole proprietorship, partnership, or a corporation.
A corporation is a little more difficult to start and
you may need to seek the help of someone who know How
to start an independent record labeland incorporate
it. Next, you will go and get your very own business license.
Then you can get your tax identification number which
is used for filing taxes at the end of the year. Since
you are here to how
to start and run your own record label then you will
need to know that you have to obtain a retail license
for selling records and other products. This will serve
the purpose of keep record of your sales tax and things
to that liking. If you follow all of these steps, the
guess what, you are officially your own record label.
This does seem like a whole lot of work but it really
isn’t. If you are determined then you can accomplish it
in a couple of days. But I am guessing that if you are
here to learn How
to start an independent record label then you don’t
mind doing a little work. So, pick a name and then get
out there and get these tasks completed! Then you will
legitimately be your very own record label and ready to
make some profits. About the Author: Ty Cohen, the online
music industry's most recognizable voice is the former
owner of a successful independent record label, current
owner of Platinum Millennium publishing and nation-wide
music industry seminar speaker and panelist. He is also
the author and creator of over 40 best-selling music business
books, reports, courses, audio products and other music
industry "How to" resources, that have helped tens of
thousands of individuals like you to successfully find
their way in the music business. Visit www.TheUltimateRecordLabel.com
for more information on How
to start an independent record label, how
to start a record label and how
to start and run your own record label |
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