Description
An agreement under which a songwriter assigns the copyright in certain songs (listed in the contract) to a publisher for a limited period, in return for which the publisher arranges for the exploitation of the songs, collects the income from licensing and accounts to the writer for an agreed share of that income. If the publisher fails to procure any usage for the songs within a certain period of time, the copyright will revert to the artist.
This contract is exclusive with respect to the songs assigned but non-exclusive with respect to the artist, as he/she is allowed to license other songs (that are not part of this agreement) to third parties.
Contract useful for new ventures looking to start building up a catalog for licensing.