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Business Entity for Touring
Regardless of which business form an artist selects to handle general music business matters, the touring artist should consider forming a separate business entity under which to conduct touring activities. For the aspiring artist, and indeed even for most national touring acts, revenue generated from live performances may be significantly less than the revenues generated by mechanical royalties, performance royalties, record sales, publishing income, synchronization and other license fee income, and advances against amounts from such sources. Protecting revenue from those sources, as well as other assets held by an artist, against the potentially substantial liability for a single incident that may occur during the course of a tour is the primary goal of establishing a separate business entity for touring purposes.
Formation of a limited liability company (LLC) for touring is the best choice for achieving this goal. The members of an LLC enjoy limited personal liability for the debts and acts of the company, while retaining the ability to take advantage of the pass-through tax treatment afforded general partners in partnership; alternatively, the members may choose to have the LLC treated as a corporation for tax purposes.
The DOJ's New Parameters for Evaluating Corporate Compliance Programs
The parameters set forth in the DOJ's memorandum have implications not only for the government's evaluation of compliance programs in the context of criminal charging decisions, but also for how defense counsel structure their conference-room advocacy seeking declinations or lesser sanctions in both criminal and civil investigations.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.