IMB Quiz Flashcards

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IDuncan23
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195795
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IMB Quiz Flashcards
Updated:
2013-01-27 19:37:46
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Business
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Study questions and answers for IMB Quiz.
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  1. When is copyright protection considered secured?
    When it (the work) is tangible.
  2. What are the five exclusive rights of the owner?
    Reproduce, Perform, Derive, Display, and Distribute.
  3. Which of these rights does the consumer have and with what limitation?
    Reproduce, Display, and Perform.
  4. What is the term for an individual's copyright?
    Life + 70 years.
  5. What is the term for a company copyright?
    95 years after it hits the market (publication) OR 120 years after creation.
  6. What happens when the term expires for any intellectual property?
    It becomes Public Domain.
  7. What website should you use to register a copyright?
    Copyright.gov or LOC.gov
  8. What types of copyright registrations do you have to choose from?
    SR, PA, TX, and VA.

    AV and SE are extras.
  9. What are the benefits of registering ones copyright?
    To have a public record. Also, it gives ownership and there consequences for those who infringe.
  10. How many copyrights exist in a recording?
    2
  11. Which copyright registrations do you search when trying to license music?
    PA and SR
  12. What is the purpose of the split sheet?
    To have written documentation of the copyrights split.

    W/O it, it defaults to 50/50 ownership (equal distribution between all parties involved).
  13. What is the publisher’s job?
    To exploit the work.
  14. When do you need a mechanical license?
    To make a new recording of an existing piece.
  15. Who is the Harry Fox Agency and what is their purpose?
    A third party that acts on behalf of the publisher who is permitted to sell mechanical license.
  16. What is the current statutory rate for a mechanical license?
    If song  is less than 5 min = 9.1 cents/song/Rec sold

    If song is more than 5 min = 1.75 cent/min/song/Rec sold
  17. When, and where, would you need to submit for the compulsory mechanical license?
    Where: Write a letter to the copyright office.

    When: When the publisher has refused to give you the mechanical license.

    Limitation: You can’t change the song.
  18. When do you need a master recording license?
    When using the original recording.
  19. When would you need to request or issue Synchronization license?
    When you combine music with a visual medium.
  20. Who are the PROs? What license do you obtain from them and for what purpose?
    Performance Rights Organizations (PROs)

    Who: BMI, ASCAP, SESAC

    What: Obtain the Performance License from them and it's used to play songs within a business setting (i.e. Club, Karaoke Bar, etc).
  21. When would you need to request or issue a Statutory License?
    Any digital transmission of a recording.
  22. Who is SoundExchange?
    3rd Party company who issues the Statutory License on behalf of the Master license owner.
  23. When is a Print License necessary?
    Anytime you print sheet music, sound books, etc. If you print lyrics, etc.
  24. What copyright owner is represented by each license type and who gets paid?
    Mechanical License: PA Owner(s) and the Songwriter/Publisher gets paid.

    Master License: SR Owner(s) and the Record Label/Artist gets paid.

    Sync License: PA Owner(s) and the Songwriter/Publisher gets paid.

    Performance License: PA Owner(s) and the Songwriter/Publisher gets paid.

    Print License: PA Owner(s) and the Songwriter/Publisher gets paid.

    Statutory License: SR Owner(s) and the Record Label/Artist gets paid.
  25. What is a contract?
    A legal binding agreement between two or more entities (people, parties, etc).
  26. What are the five valid (enforceable) points of a contract?
    • 1. Parties are legal
    • 2. No illegal acts
    • 3. Unambiguous language
    • 4. Consideration
    • 5. Mutual Agreement
  27. What is the purpose of the statute of frauds?
    What is it? It outlines when oral agreements are not enforceable. Some have to be in writing in order to be enforced.
  28. What are the categories within the statute of
    frauds?
    • 1. Real Estate Transactions
    • 2. Sales of goods over $500
    • 3. Agreements, which last more than a year to complete.
    • 4. Pre-nuptial Agreements.
    • 5. Agreements to pay someone’s debt.
    • 6. Selling an exclusive copyright.
  29. What is the difference between protections and options in a contract? (Be able to recognize these in an agreement)
    PROTECTIONS - Used to prevent harm from either party.

    OPTIONS - Gives one choices in a contract.
  30. What does the "Severability Clause" enforce?
    If parts of a contract are held to be illegal or otherwise unenforceable, the remainder of the contract should still apply.
  31. What does the "Indemnity Clause" enforce?
    Each party agrees to indemnify and HOLD HARMLESS the other party from any suit resulting in its owns actions.
  32. What does the "Sunset Clause" enforce?
    Clarifies what will happen after the term of a contract ends or a specific date.
  33. What does the "Audit Provision" enforce?
    Gives you the right to review the accounting books.
  34. What does the "Right of First Refusal" (OPTION) allow?
    Gives the person hired by the owner (THE HIRED) the right of first refusal for any future projects of the owner. So the next time the owner has a project, he must go to THE HIRED and let him/her decided whether they want to work on the project or not.
  35. What does the "Pay or Play" (OPTION) allow?
    A pay-or-play contract is a contract in which one party agrees to perform and the other agrees to pay for the promised performance. The second party agrees to pay even without demanding a performance.
  36. What is "Mediation"?
    You don’t sign a contract before the meeting; therefore, you can’t be held to the mediator’s decision.¬† Mediator tries to get the parties to agree to settle out of court; if that fails, court is still an option.
  37. What is "Arbitration"?
    When the parties in disagreement argue it out in front of a neutral person after signing a contract promising to abide by whatever the arbiter says they should do.

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