L3006 Laws And Music

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L3006 Laws And Music

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L3006 Laws And Music

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Course Code: LEL3006
University: Monash University

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Country: Australia

Discuss about the Chains of Organizational Structure.

The music industry is one of the finest and vas industry which consists of various companies and individual people who are earning the capitals by successfully running their business by composing new songs, selling live concerts, live shows, different audio and video recording and the organizations and associations where they creating the compositions of the song[1]. The music industry control and operate by several organizations or individuals where different kind of activities are present for controlling. It can be creating or selling the recorded music where music publishers, music producers, record labels Studios, other online music stores are included. When it has been found as there are other organizations that perform live music programs, all of it are related with the sound engineers, booking agents, promoters, music venues, road crews all are included[2].
The music industry is one of the best business industries where it produces a fine line between the artistry and a structured business sense.  When someone wants to have their own business which is related to the music industry a sound business infrastructure is one of the great ideas for starting the music industry business. It is important to choose appropriate business structure for running a business successfully. It applies several liabilities for the owner of the business. In addition when the business is running the liability is become are debts or a circumstance which represent the liability to the proper legislations of the law[3]. The success in the music business depends on the intention of the Businessman and the strategy of business plan where it will be applicable by the law. In the future in the music business industry which always includes the sole proprietorship, the Corporation and the partnership where this will help the owner of the business in the music industry. The sole proprietorship defines the individual business where only one owner should present and control the organization and make it a corporation or a limited liability company. In the sole proprietorship it is need to have the common business registration where it should be start the basic legal structure which can be applied according to the law of that country or city or the state. Therefore as per the legal terms of the sole proprietorship need to give the nominal taxes and if any other personal liable for debts are required they need to pay then it will be the owner, who solely responsible for paying the every individual tax returns[4].
The partnership is another form of sole proprietorship where the owner can be more than one. The liability in the partnership is depend according how the owners are making their own partnership, where they can set their own rules and both of the partners are responsible and liable for every business debts. In the partnership the partners can also choose the term of Limited partners where the personal liabilities are free between the partners but they can have their mutual understanding over the business decisions and operation. This is one of the forms of business where at least one general partner should require.
The corporation terms define where more than owners have equal personal liability where they have the capability of issue in public or private stock. There are two kinds of Corporation can be seen in music industry one is C Corporation which they have a complete separate taxed ownership or they have shareholders and in the S Corporation the partners who are the owners of the business or have their own entities regarding the regulation of ownership profit or loss allocation every corporate meetings and Record Keeping payment of tax treatment etc[5].
The limited liability companies are another form of separate entities which was mainly formed by the business owners who present an offer for the taxation capabilities for both of sole proprietorship and partnership and it relieve the owners from their personal liabilities. When the personal liabilities are distributed along with it the personal guarantees on loans and paid Federal and state tax dates intentional or negligent act fraud or other illegal behavior or failure to treat the limited liability companies as separate entity by their owners which all are included which are the important issue for form a successful business[6].
When a business corporation is introduced by the owners or the individual owner it is important that aim should be fixed which helps to set up a corporation structure where the corporation is only held liable for any incurring debts. It is important for the business owner that when the business strategies or the investments are using regarding the corporation then there will be no relation in between the personal Assets of the owner and the assets related with the business organizations[7]. When a person running a band business through a corporation and if any situation arises where the band was not able to pay the Dept for their any live concert then the corporation can force the organization into bankruptcy for paying the debts[8].
According to the law any personal assets are completely separated from the corporation where legally they cannot be seized. Therefore when someone investing the capital into the corporation it should be necessary that the investment used to pay back the depths and in this way the business owner personal assets like their house, cars or any other properties never involved in the business. If there is any loss the company suffered it should be the corporation itself and the capital investment which are related to the organization that will only affect due to the loss[9].
The person who starting the business must have the quality to running the business according to the common business law and the owner should be educated, smart and must give their complete potential for running the business and make it the best opportunities in the marketing of business[10]. If the business strategies failed to work according to the corporation law of that state of the country then the owner of the business can face legal consequences for breach the duty of care and the acts of business[11]. In the music business the compositions which include the song pieces lyrics the recordings which includes audio and video and media where different kind of CDS or MP3s or DVD’s are used mostly sometimes the music business has no interference[12].
Therefore it can be stated that the controlling and monitoring music industry is not an easy matter which according to the business perspective[13]. It is one of the intelligent business ideas which always complete business structure and help to maintain and promoting the music organizations[14]. The business structure is helps the company to get extra benefits and determination from the business strategies. However the liability of running the business where risk and reward both are equally balanced and help to build a business career under the circumstances of the legal constitutions and the corporation law of the said country[15].
Passman, Donald S. All you need to know about the music business. Simon and Schuster, 2015.
Ashkenas, Ron, et al. The boundaryless organization: Breaking the chains of organizational structure. John Wiley & Sons, 2015.
Wikström, Patrik. The music industry: Music in the cloud. Polity, 2013.
Allen, Paul. Artist management for the music business. CRC Press, 2014.
Steingold, Fred S. Legal guide for starting & running a small business. Nolo, 2015.
Krasilovsky, M. William, and Sidney Schemel. This business of music: The definitive guide to the business and legal issues of the music industry. Billboard Books, 2007.
White, Tom. Hadoop: The definitive guide. ” O’Reilly Media, Inc.”, 2012.

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