Music Licensing Has Become Simpler With Help Of Crowd-sourcing

Music industry is teeming with budding talents who are in dire need of a break to showcase their original creations before public. As they are not among the rising flocks of copy-cats but belong to the rare group of extraordinary talented artists, so their original compositions must be preserved by dint of music licensing. Getting one’s music licensed means that the particular piece of music can not be used without the prior permission of the composers. Now for simplicity, the entire process of licensing music can be divided into three tasks locating the perfect song, entering into the negotiation process for the song and finally deciding the price. Each of these tasks is tough and tedious one. They require the involvement of several persons to accomplish the entire process of licensing. With the extensive use of net, however these not-so-simple tasks have become simpler and quicker to finish. ‘Crowd-sourcing’ has lent music licensing a touch of simplicity.

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There is no denying the fact that locating the music licensing for film, television and commercials is not a piece of cakewalk. With several hundreds songs being pumped into the market and uploaded to the web on weekly basis, searching the most suitable song as per as requirement seems to be the next to an impossible task. Filtering through so many collections to find out the best match requires so much time that the music supervisors prefer to work with the music publishers instead of turning to the independent entities for music licensing. Obviously, they have to shell out extra bulk to avoid extensive searching for the perfect match. By approaching the music supervisors, they also have an access to the well-known hit songs of the music world.

Negotiation is an important part of the entire gamut of music licensing. The skill of negotiations also comes into play while fixing the price of a song. This tough task gets tougher while dealing with the renowned publishers and labels. The cost of music licensing springs up as these publishers charge high price to involve all the necessary parties. On the other hand, involving an independent entity directly into the procedure of music licensing will lead to a significant reduction in cost but at the same time several problems will come to the surface too. The major problem is that these independent bodies possess no licensing department. These departments generally let the new musicians know the diverse options of music licensing. These independent personalities can also get into a fit of rage when the fresh talents find it very hard to comprehend various terms of licensing agreement and peck them with several questions.

The main advantage of using the ‘Crowd-sourcing‘ method is the composers as well as song writers get to know the music licensing contract and also price in advance. This process is the reverse method of familiar licensing procedure as the music is located after negotiation process is over and price is set. Such process does not require one to search what he or she is looking for as the right music will be sent by the composers from any corner of the globe via net. The option of ‘Crowd-sourcing‘ is not the best fitting solution of music licensing for film for the musicians but it is, no doubt, much better solution as compared to the familiar process of licensing music.

 

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start company in India

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How to start a company in India

 Company registration in India is done online through the Ministry of Corporate Affairs. Below are the steps involved in registering a company in India.

For private limited company the minimum requirements are:

Minimum 2 Shareholders
Minimum 2 Directors
Minimum Share Capital should be Rs. 100,000 (INR One Lac)

For public limited company the minimum requirements are

Minimum 7 Shareholders
Minimum 3 Directors
Minimum Share Capital should be Rs. 500,000 (INR Five Lac)

(note that Directors can also be the Shareholders of the company)

 Steps Involved:

Step 1: Get Director Identification Number (DIN) for all the Director and Digital Signature of at least 1 director.

 The required documents are;

ID Proof (PAN is Mandatory, Passport, drivers license etc.) and Address Proof (Passport, telephone bill, Driving licence etc.).
All the Directors have to sign the Annexure 1, which needs to be attached while applying for DIN
The director who is involved in signing the Incorporation Documents should get Digital Signature.

 Step 2: Name Search and Application for Name.

 Promoters have to provide at least 6 (Six) names in order of priority and that name will be verified with MCA.

 The provided name should not be a name of the Company which is already registered.

Name should not have any trademark or word mark.  If there is a trademark, promoter has to submit Copy of trademark certificate and NOC.
The main business activity has to be mentioned in the name application from.
Name shall reflect the activities of the business which is going to be pursued by the proposed Company.
e-Form 1A has to be filed with RoC for name availability.

Step 3: Drafting the MOA and AOA.

 Once the name gets approved, the MOA (Memorandum of Association) and Articles of Association is to be drafted.  MOA and AOA – These are required to be executed by the promoters in their own hand in the presence of a witness in quadruplicate stating their full name, father’s name, residential address, occupation, number of shares subscribed for, etc.

 Step 4: Filing e-Form 1, e-Form 18, e-Form 32 with the Registrar of Companies (RoC)

 This is the last step in incorporation process where MoA, AoA and Letter of Authority/ POA needs to be filed along with Stamp Duty. The different forms namely:

 e-Form 1: This is a declaration to be executed by one of the directors of the proposed company or other specified persons such as  Attorneys or Advocates, etc. stating that all the requirements of the incorporation have been complied with.

 e-Form 18: This is a form to be filed by one of the directors of the company informing the ROC the registered office of the proposed company.

 e-Form 32: This is a form stating the fact of appointment of the proposed directors on the board of directors from the date of incorporation of the proposed company and is signed by one of the proposed directors.

 Once the above forms got approved from the RoC, it will issue Certificate of Incorporation. That will be the conclusive proof that the Company has been incorporated

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