I am owner of a recording studio called AK Beatz LLC which is based in York, Pennsylvania. Myself and another gentleman are co-owners of the LLC and we have been in business since March of 2015.
The business is starting to pick up and we have some big upcoming opportunities with Music Education Programs and Recording Audio/Creating custom music for recording artists. Unfortunately we were intimidated with the costs of hiring a lawyer to draw up our Operating Agreement and other documents associated with running the business.
This leaves me with about 10 questions which I think could be answered with a simple consultation and about 6 to 10 documents that will need either reviewed or drafted, which I have listed below.
Documents needed to be drafted or reviewed:
1. Operating Agreement
a. Business ownership
b. Splitting Ownership, Credit, and profit for each song or project
c. Hours of operation/ Work put into business by each owner
d. Exiting agreement
2. New Client folder (Review)
a. Studio Policy terms and conditions
b. Production services/Rate agreement
c. Talent consent and release
d. Session musician/vocalist release contract
3. Beat Library contract w/electronic signature (Review)
4. Payment plan agreement/terms and conditions (Review)
5. Renewal of LLC? Never received notice and it is still active on state portal. (Review)
6. Set of books and/or list of equipment to verify monetary and equipment contributions to business
There will probably be the need for a few hours of work needed initially to draft contracts but we find ourselves in many situations where we need various types of contracts or legal help quite often depending on the projects we are working on.