Private legal practitioner Bobby Banson has outlined some key factors investors need to consider before investing in an artiste.
According to him, an investor is supposed to know the dos and don’ts involved in that venture, and also what to expect from the artiste in question.
Speaking on Happy FM Bobby Banson explained that “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”.
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He went on to say that as an investor, it is not wise to get involved in the management team of the artiste.
“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 stated.
Bobby further urged that every agreement between the investor and artiste must be documented from start at all cost.
“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 further encouraged that all artistes have some form of legal backing especially when it comes to dealing with investors.
Lawyer Bobby noted that a lot of artiste fail to take the right footings when they begin and it goes a long way to affect them as they become a bigger artiste.
“So both parties must make sure they understand what they’re getting themselves into and also get proper expert advice before going for it” he stressed.