Exclusive Licence

Licence Agreement

(EXCLUSIVE LICENCE)

Sound Recording/BEATS

 

THIS LICENCE AGREEMENT is made on (insert Effective Date here) by and between (insert buyer’s name) (hereinafter referred to as the “Licensee”) also, if applicable, professionally known as (insert buyer’s name) and Dr Taiwo Owoeye (hereinafter referred to as the “Licensor”), professionally known as Dr Tyric (Tyric Beats). Licensor warrants that it controls the mechanical rights in and to the copyrighted musical works entitled (insert song/beat name) (“Composition”) as of and prior to the date first written above. The Composition, including the music thereof, was composed by Dr Taiwo Owoeye (“Songwriter”) managed under the Licensor.

 

        1.     Master Use

The Licensor hereby grants to licence an Exclusive Licence (this “Licence”) to record vocal synchronisation to the Composition partly or in its entirety and substantially in its original form (“Master Recording”).

 

        2.     Mechanical Rights

The Licensor hereby grants to Licensee an Exclusive License to use Master Recording in the reproduction, duplication, manufacture, and distribution of phonograph records, cassette tapes, compact disk, digital downloads, other miscellaneous audio and digital recordings, and any lifts and versions thereof (collectively, the “Recordings”, and individually, a “Recordings”) worldwide for unlimited copies of such Recordings or any combination of such Recordings, condition upon the payment to the Licensor a sum of $_______ US Dollars, receipt of which is confirmed.

 

        3.     Performance Rights

The Licensor hereby grants to Licensee an exclusive license to use the Master Recording in unlimited for-profit and non-profit performances, shows, or concerts.

 

        4.     Broadcast Rights

The Licensor hereby grants to Licensee an exclusive licence to broadcast or air the Master Recording in unlimited amounts of radio stations.

 

        5.     Credit

Licensee shall acknowledge the original authorship of the Composition appropriately and reasonably in all media and performance formats under the name “Tyric Beats” in writing where possible and vocally otherwise.

 

        6.     Consideration

In consideration for the rights granted under this agreement, Licensee shall pay to Licensor the sum of $_____ US Dollars and other good and valuable consideration, payable to “Taiwo Owoeye”, receipt of which is hereby acknowledged. If the Licensee fails to account to the Licensor, timely complete the payments provided for hereunder, or perform its obligations hereunder, including having insufficient bank balance, the Licensor shall have the right to terminate the Licence upon written notice to the Licensee. Such termination shall render the recording, manufacture and/or distribution of Recordings for which monies have not been paid subject to and actionable infringements under applicable law, including, without limitation, the United Kingdom Copyright Act as amended.

 

        7.     Delivery

The Composition shall be delivered via email to an email address that the Licensee provided when making their payment to the Licensor. Licensee shall receive an email containing an attachment or link from which they can download the Composition. This will comprise of HQ MP3, Master WAV and Track Out WAV Files.

 

        8.     Indemnification

Accordingly, Licensee agrees to indemnify and hold Licensor harmless from and against any and all claims, losses, damages, costs, expenses, including, without limitation, reasonable attorney’s fees, arising of or resulting from a claimed breach of any of Licensee’s representation, warranties or agreements hereunder.

 

        9.     Audio Samples

Third party sample clearance is the responsibility of the Licensee.

 

        10.  Miscellaneous

The licence is non-transferable and is limited to the Composition specified above, constitutes the entire agreement between the Licensor and the Licensee relating to the Composition, and shall be binding upon both the Licensor and the Licensee and their respective successors, assigns, legal representatives.

 

        11.  Governing Law

This License is governed by and shall be construed under the law of the United Kingdom, without regard to the conflicts of laws principles thereof.

 

        12.  Publishing & Copyright

The ownership of the copyrights is split as follows:

 

  Copyright (Songwriter/Publishing): 50% to the Licensee and 50% to the Licensor

  Sound Recording Copyright: 50% to the Licensee and 50% to the Licensor

 

The Licensor shall receive, in the percentages above income of any kind and from any source resulting from the exploitation of both copyrights (“Licensor’s Royalties”)

The Licensee must disclose the Licensor’s copyright ownership percentages (“split sheet”) to the Licensee’s record label, aggregator, distributor, publisher, and copyright authority worldwide or with any Performing Rights Organisation worldwide (i.e. BMI, ASCAP, PRS, etc.)

Finished audio recording by Licensee of audio release can distribute to music supervisors for consideration of synchronisation licensing. Only the recording artist or recording company can monetise with this licence. This is not a synchronisation licence for music supervisors of the TV, Film and Video game industry.

 

THE PARTIES HAVE DULY EXECUTED THIS AGREEMENT on the date first written above

 

Licensor: 

________________________________________________ Date: __________,20__

Dr Taiwo Owoeye – Producer

Authorised Signing Officer

 

Licensee:

________________________________________________ Date: __________,20__

Buyer’s name – Artist

Authorised Signing Officer