I finally had a chance to reach
out to the other gatekeeper to the key of success for my class, future business
avenues, and my business entity.
The young lawyers’ name is Mr.
Jack Krumbein, MBA, JD Attorney at Law.
I was surprised how reserved he
was when he came up to my table asking my name to be for sure that I was the
man described in his early text. As I got up to shake his hand hoping he
wouldn’t tell my nervousness I answered, “yes I am.” We sat down and with no
time of asking how he was we were off with the interview as I put on my reading
glasses to get in character with the questions I had to ask for my paper and
for my questions as well to learn what and how the Entertainment Business of
Music is operated with ways of negotiation to gain a win/win for both sides
asking for what they want and what they need to feel that both parties are
happy at the end of the negotiation.
I started with the usual
question of the experience and background of Mr. Krumbein; which was a 20-year
stretch in the music business in the Los Angeles area and it has sent him over
20 countries in the world before his law degree. He has been in Entertainment
Law for a year now. He was ready to get started so I begin the questioning and
I hope to all my readers learn some things that matter to help you understand
that without a lawyer or a team of legal advisors you will probably be taken
for all your hard work or either you will be working for pennies and thinking
you suppose to be working for more. So enjoy the learning experience because
you are whom this is for.
Question
was:
When doing a distribution form
of negotiation what is the best way of approaching the situation?
Answer:
Being professional, stay objective,
and able to make provisions to make the deal happen. For the record, “remember
that you are there to capitalize on what is behind the label with the
distribution access.”
Question
was:
How do you separate the people
from the problem when you are negotiating?
Answer:
You cannot separate the person
from the problem. It is all about making the deal for the client. You have to
keep a good relationship and a good hypocrisy affect of getting the payday
between both sides.
Question:
How do you handle positional
bargaining tactics?
Answer:
By enforcing issues of politics
in the business, and staying away from take it or leave it deals especially
those with no real leverage.
Question:
How do you handle dirty tactic
such as tricks in negotiating?
Answer:
When the other side lies or use
trickery just walk away from the table. Stay transparent and always have
enforcement ability for clauses and money for outside sources like auditors to
make sure that all agreements dealing with such goes as plan.
Question:
Give me an example of a deal
that you have done with your contracts
and they had to be mutual benefited?
Answer:
An 11 contract cycle that
covers the money revenue stream, legal reservations that happen to enforce the
contracts to have the issue resolved. He also included the fact that
compromising is the center of negotiating. The example was putting the contract
together within a team of a songwriter, artist, and producer; which help to
make up a single work of art in the music business. Without one you can not
have the other to make a whole work so the contracts must be able to back one
up for the other to get what they want out of each person in their positions
and interest.
Question:
What do you feel are your good
attributes for being a good Entertainment lawyer?
Answer:
The ability to integrate
business law and music along with dealing with Entertainment Finance, being a
musician all his life, and being music business savvy allows him to build and
keep relationships with his clients of past and present. I do want my readers to
know that what you have read is me trying to be helpful to show artist that my
blogs are to help and even get people to understand how serious I am to be the
best Artist Manager, CEO, and small business owner for this industry of
Music.
I hope that what you do learn from what I have been able to open your eyes
too is a plus not a negative because for any more of the knowledge that I was able
to
acquire just like it was told to me all information costs and the ability to
perform the
action of giving the client what they are interested in or asking a
position out of something than pay the cost to be the boss of knowledge.
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