Why Negotiation Skills Matter in Entertainment Law
In thinking about our entertainment law practice, our goal is always to help our clients get the best deal, especially when it comes to contract terms, licensing, and or maximizing royalties/residuals and other opportunities. From the outside, this may sound pretty straightforward. But to do it well, we would argue, requires a background in negotiation, which plays a crucial role in securing the rights and interests of our artist community, including actors, recording artists, directors, producers, and production companies.
When it comes to the entertainment industry, negotiation is the lifeblood of every deal. At Bullock Law PC, our background in trial law has taught us the art of persuasion, the ability to understand the opposing side’s position, and the finesse to reach mutually beneficial agreements.
“You have to be able to understand the other side’s position and have a history of similar deals you’ve approached, recognizing what is “fair” in a particular circumstance.” – Steven Bullock
Most of all, though, what we try to do is prepare for any
discussions far in advance.
After all, you have to be able to understand the other side’s
position and have a history of similar deals you’ve approached, recognizing what
is “fair” in a particular circumstance. Over the years, we’ve run into a number
of situations where we represented “creators” who felt undervalued or frustrated.
Examples include:
·
Well-known actors who wanted to be paid fairly
for contracted roles in TV shows, films and commercials, as well as for
royalties
·
Recording artists who felt they weren’t receiving
fair compensation or creative control from record labels
·
Directors who wished to secure both artistic
integrity and adequate funding for their films
·
Production companies who wanted to negotiate
distribution deals with major studios
·
Screenwriters who wanted the right compensation for
original works, as well as for rewrites.
Why Finding Common Ground Matters in Entertainment Law
One of the most important aspects of negotiation skills is the ability to find common ground and build fruitful relationships. In entertainment law, building relationships is essential, as it often leads to future collaborations and opportunities for clients. This is where having experience in trial law (especially our personal injury law practice can reap benefits for clients. Contrary to what you might think, personal injury law is a lot about building trust and rapport, not only with clients but also with opposing counsel.
You have to be able to listen and approach negotiations of settlements with empathy and open-mindedness. From there, you can find the common motivations and goals of both parties and, in a sense, bridge the gap between the differing perspectives. Through skillful negotiation, you can secure a contract agreement that not only protects and benefits the clients but is also seen as acceptable for the opposing side.
Negotiation Skills Apply to a Number of Areas for Our Entertainment Law Clients
In the competitive world of entertainment law, negotiation skills are a key differentiator for sure. They allow me to effectively advocate for my clients’ best interests, whether it’s securing fair compensation for actors in film and television projects or ensuring that recording artists receive their rightful royalties.
And those negotiation skills are not limited to contract negotiations. They extend to resolving disputes, mediating conflicts, and protecting intellectual property rights, as well as securing fair royalties and residuals for clients. (Indeed, many artists rely on these income streams to sustain their careers and livelihoods.)
Preparation, Preparation, Preparation
Over the years, I’ve represented a number of actors, many involved in some highly successful television programs. As many shows gain in popularity over time, actors can sometimes find themselves at a crossroads when negotiating her contract for the upcoming seasons. Initial offers can often be far from ideal, sometimes with a minimal increase in salary and unfavorable terms regarding royalties or residuals.
Understanding the importance of securing fair compensation for these artists, we have to approach the negotiations armed with data, market research, and a comprehensive understanding of his or her value to the show. This is where our trial experience can also help. For, oftentimes, we have to craft a persuasive argument highlighting an actor’s integral role in a series and the financial success it had achieved due to his or her talent and dedication.
This underscores the significance of having an experienced entertainment lawyer by your side when it comes to representing your interests. We approach each negotiation with meticulous preparation, a thorough understanding of the industry landscape, and an unwavering commitment to protecting the rights and interests of our clients.
Need an entertainment lawyer to represent you? Contact us today.
