Lawyer Bobby Banson, Lead Counsel for the Robert Smith Law Group has shared some key factors for investors to take note of before going on to invest into an artiste.
He explained that, doing this will give the investor an idea of what their responsibilities are and what is expected of the artiste.
Talking to Doctar Cann on Happy 98.9FM’s Showbiz Xtra he said, “The investor must follow the money and the artiste should account for it. Normally the best thing to do is to establish a company and put the money there for the artiste so the money used can be traceable”.
He also stated that it is not advisable for the investor to be involved in management.
“Don’t be involved in management. Be an investor but, don’t be involved in day to day management. You can get the artiste a manager who sees to the movement of the artiste so, you can always monitor and have two sides of the coin coming to the table to negotiate for the best interest of the artiste”he shared.
He furthered that, it is also important to always put everything on paper from beginning to end.
“Don’t assume that the relationship will remain cordial forever and ensure that everyone’s right, responsibility and obligation is well set out for the sake of evidence and reference”he added.
He however encouraged all artistes to ensure they have legal backing especially when it comes to dealing with investors.
Lawyer Bobby noted that, doing all this is important because, lot of artistes do not start with a proper foundation from the beginning and it tends to go against them when they start getting bigger.
“So both parties must make sure they understand what they’re getting themselves into and also get proper expert advise before going for it” he charged.
By: Gyamfuah Owusu-Ackom
Follow us on Twitter:@happyfmghana
Follow us on Instagram:@happy989fm
Like our Facebook page: happy98.9FM
Listen to us on 98.9 FM and on our affiliate networks;
Neesim 100.1FM – Northern, Savannah and North East Regions
Akonoba 92.7FM – Bono, Ahafo and Bono East Regions
Visit https://www.happyghana.com for more updates
