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The Legalities of Becoming Your Own Record Label

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: 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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