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October 17, 2005

First Global Auction House For Music Copyrights

Written by
cindy mcleod

Announcing the first ever auction house where musicians can sell their music copyrights is professor of Music Law at Thomas Jefferson School of Law in San Diego, CA, Rod Underhill. The former music director of MP3.com says that this online resource opens a new method for income.

“I accepted the challenge of a Canadian music company to create an online resource, AuctionSongs.com, where independent musicians can sell their songs to the highest bidder. This opens a new method of income for talented musicians who can offer the sound recording and/or composition copyrights of their songs. AuctionSongs.com will work in conjunction with our companion site, Auctionmovies.com, where filmmakers can sell their unsold movies to the independent filmmakers,” says Underhill.

According to www.AuctionSongs.com, the seller must be at least 18 years old and have the right to sell either the composition copyright or the recording copyright, or both, and can also set his or her own price. It also includes that as soon as the artist records the song they automatically have both composition and recording copyrights.

As when a signed artist records a song they usually lose most of the ownership of the composition copyright, and the record label usually owns the full recording rights. In this case, the artist only earns income from the amount of CDs sold. However, as an unsigned artist, you own full copyright.

The site is not charging for the service, there is no sign-up fee and there will be no percentage of the proceeds owing from the sale of the song.

The site says, “By selling your copyrights, you give others a chance to invest in your music one song at a time.” It includes that, as a songwriter if you just wanted to sell the composition copyrights you would only need a clean demo, not a professional recording.

In order for an artist to offer any song for sale they must own all copyrights. The sale of the copyrights become final once the final payment is provided in the amount that was agreed upon. The site advises that the artist use escrow services at www.Escrow.com, for the sale of all copyrights.

For more information, visit www.AuctionSongs.com.

Posted on the Canadian Musician website www.canadianmusician.com

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