A writer addressing dealmaking in the entertainment industry duly notes in a recent Forbes article the sheer complexity that transactions often entail.
His point is well taken. A movie, for example, involves elements ranging from actor selection and remuneration to production and distribution rights. Financing is spotlighted, as are royalties, potential tie-ins to other films and literally dozens of other key considerations.
And here’s an interesting point accompanying that reality, namely, that the complex nature of the entertainment sphere is closely coupled by participants’ propensity to proceed informally when they transact. The Forbes piece underscores that the level of informality in the realm “is disastrous, and spawns the endless litigation for which the film industry is infamous.”
Nobody wants that outcome, right? Regularly recurring stories similarly report entertainment deals that soured for various reasons and cost involved parties astronomical amounts of money.
Is there a way to routinely safeguard against such outcomes?
Indeed, there is, and we point directly to it on our website at the Law Offices of Barry K. Rothman, a long-tenured and proven Los Angeles entertainment law firm. Timely consultation with an experienced legal team can help ensure that an industry client’s goals and best interests are optimally promoted rather than undermined.
That customarily starts with attention to detail and exacting scrutiny placed upon contract negotiation, execution and enforcement. Timely, on-point and proper lawyering helps avoid situations where valued clients can otherwise find themselves “in trouble due to improperly drafted agreements.”
Seasoned entertainment law attorneys can provide further information.