My company name is The Music Tree. The Music Tree is a well
organized easy to navigate online business. The website consists of allowing
artist, composers and producers to sell music to industry professionals in the
film industry, gamming industry and music industry whom are looking for music
to use in their projects. Just like all companies my company has legal liabilities
and things that may go wrong. It is important to know and understand what those
liabilities are so that we can properly protect and prepare for the worse that
may come. For an example, my company The Music Tree, being an online business
that sells music will have legal liabilities that deal with contracting and
copyright infringement. When it comes to making sales on music The Music Tree
bridges a contract between the costumer and The Music Tree and also between the
artist or owner of the song and The Music Tree. This is to establish between
the company and costumer what is permitted and not. It is also to make note of
what is required as far as payments. For an artist, composer and producer a contract
will consist of things such as how much they will be paid if their song is
purchase and also when will they receive their payments. Contracts will become
a liability the second an artist or company feels that they have been wronged
in any way. The copyright law can play a vital role when it comes to legal
liabilities. Copyright infringement is a dangerous thing to play with and can
put a tremendous hole in my company. Lets say for an example, there is an
artist and said artist wants to a song that he has so he puts it on The Music
Tree’s website. Once the song is on the website another artist whom of which is
the owner of the copyright finds it within the database and decides to sue The
Music Tree for infringement. My company could possibly be stuck with charges
when it has done nothing wrong. The situation may become worse if the song was
sold because now the company who made the purchase can now sue The Music Tree
if their company has been harmed in any way. Another aspect of my business that
can be a legal liability is any legal documentation that needs to be filled
out. If any form or registration were complete poorly or with false information
my company The Music Tree can be shut down completely with no questions asked.
With that being said it is important to know what can and will hurt your
company and prevent it from growing.
