There are many aspects must be considered when dealing with
negotiation in the entertainment business. Publishing and Intellectual Property
are two of the most important areas to understand. When dealing with publishing
for music, movies, books, and other forms of intellectual property, seeking
legal advice is crucial. Many decisions are involved with licensing, and
contracts. That is why independent artist, filmmakers, and musicians must learn
how to become the businessman to maximize revenue. Even though most artists
prefer focusing on their creativity, artist endeavors are extremely risky,
especially at the negotiation table. While dealing with negotiations, we have
to remember to be aggressive, persistent, focused, committed, and creative
without coming across as annoying.
Four of the key steps in planning model for negotiation
model begins with having a strategy. Creating a strategy involves research. We
must understand the situation in which we are involved. The more that we
understand the situation, the more successful our strategy plan will be. Second
is style, we have to be able to create a style that does not offend the other
party, and still maintains a strong presence at the negotiation table. Next, we
need to have a list of affective questions. Once the other party member
realizes that you have questions that pertain to the information discussed, it
gives them a better impression of your knowledge and inquisitiveness. The
fourth strategy to understand is when to create a block. A block give you more
time for questioning, and later scheduled sessions. If you are working with a
legal representative, they will create strategies for blocks and share the
information with you. You must also have plan incase the other party member has
a block as well.
One must keep in mind, that there are no defined steps to
take when entering the entertainment business. This is why it is extremely
important to fully understand the deals, legalities and contracts. If a
filmmaker does not understand the deal with the distributor, then they could
ultimately watch their film flourish and not see any profit. Most distributors
are smart and perceptive and understand the legal side of the business more
than a filmmaker does. It is vital for a new filmmaker or writer to research
the background of the distributor before entering a negotiation. It is also
important to search the contract for fees and out clauses that are heavily in
the favor of the distributor. Pay attention to the maximums for advertisement, and
the length of the contract. Try to make your contract for two years with
automatic extensions as long as they make a certain return on investment. Do not fall for the normality.
Preparing an opening statement in a negotiation is crucial.
Having an opening statement allows you to persuade the other party member to
see the situation from your perspective. The elements of a persuasive
negotiation argument are being detailed, multidimensional, balanced, focused,
and appropriately emotional. Once you possess these elements, you are able to
exhibit passion, truthfulness in your statements. In addition, the other
members recognized how prepared you are on the law, and are better able to
respect your perspective. As long as you remain intelligent with your negotiation,
you should maintain a comfortable position. Remember to separate the
problem from the people by using objective criteria’s, concentrate on maintaining
mutual benefits, and always abide by the BATNA. You can find these examples explained
within the following web links I have provided.
