What factors should mcmillan take into account

Assignment Help Business Law and Ethics

Reference no: EM133194471 , Length: 2 pages

Case Law for the Entrepreneur

L. Londell McMillan Case Study Questions

Question 1. What are Prince's alternatives? What are the pros and cons of each?

Question 2. What factors should McMillan take into account when advising Prince?

Question 3. If you were head of one of the major recording labels, would you be interested in signing a deal with Prince? If so, on what terms? If you were Prince, would you agree?

L. Londell McMillan In-Class Discussion Questions

Question 1. Why is Prince considering going back to one of the major labels for distribution of Musicology?

Question 2. Identify the four services the major record labels offer artists? Discuss each service and why they are vital to artists.

Question 3. For providing all these services to artists, what did music labels take in return? How did they make their money back?

Question 4. What was happening to the music industry at the time Prince wanted to deal?

Question 5. If you were head of one of the major recording labels, would you be interested in signing a deal with Prince? Why? What does your label have to gain and/or lose?

Question 6. If you are interested in signing a deal with Prince, what terms do you offer him?
If you were Prince, would you agree to these terms? Why or why not?

Question 7. If you were McMillan, what factors do you take into account when advising Prince, and what would you advise Prince to do with respect to negotiating a deal with the labels given Prince's history with record labels? (Consider: Does Prince need all the services provided by labels?)

Question 8. Discuss the nature of recording contracts between artists and recording labels. Consider: are these contracts arms length bargained transactions or are they one-sided in terms of who holds the power and why?

Question 9. Does the record label owe a fiduciary duty to the artists that requires obligations greater than those stated in recording artists contracts? Argue from the perspective of the label vs. the artist

Question 10. What qualities should an entrepreneur look for in a lawyer and why?

Reference no: EM133194471

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