A Little Help Please?

It seems so surreal that I will be graduating from Full Sail University in December with a Master’s in Entertainment Business. A few months ago, I was questioning whether or not to pursue another degree after college let alone Full Sail University. Granted, I was very reluctant about paying the cost of tuition, but after seeking wise counsel from many Full Sail’s students, admission counselors, and financial aid advisors, I was comfortable with the decision of looking at it as an investment. Full Sail University has placed me on the journey of starting my own entertainment company through the many courses in its curriculum. I don’t know about you, but starting a business can be very scary. There is the threat of failure, being sued, not being prepared, and a host of other fears.

            This intimidating feeling was all too familiar, so I had to seek the guidance from Frederick Livingston who is an entertainment lawyer in Detroit, Michigan. Mr. Livingston graduated from Wayne State University and started out as a personal injury lawyer. Being that he grew up around music his whole life, he decided to pursue entertainment law. Moreover, he was perturbed at the many frauds that would get over on people with true talent with phony deals. It is his duty at the Law Offices of Frederick V. Livingston to protect these individuals and provide a service that is of quality.

In regards to my business, Livingston advised me to file as a Limited Liability Company because of the high potential of being litigated. He states, “If you do not get sued, you’re not making money because no one is paying attention to you!” I was all right with not being sued, but there was some truth to the statement. This filing protects the owner from having his or her personal assets at risk during a lawsuit. Having a plan was crucial advice he gave me because doing entertainment full-time takes a while. Therefore, gaining experience by working for another entertainment company, interning, or doing entertainment business on the side was recommended. Mr. Livingston also touched on the point of imaging. You cannot charge top bucks for your services if you do not have the proper equipment to send documents or hold meetings with potential clients. Building relationships and trust as a brand is a much-needed aspect of my business. There should be no rush to get into this business without the proper timing and preparation. He often sees management companies entangled in misrepresentation, frustration of purpose, and breach of contract litigations. To avoid these liabilities, I must be able to perform all the duties stated in the contract. Many management contracts are oral, but he advises that every agreement be in writing to avoid the tedious task of proving an oral contract if the situations gets there.

This was the amazing advice Fred Livingston gave to me as I am in pursuance to own an entertainment company. He encourages each individual who wants to go into business in the industry to gain book knowledge. This aspect is important, but it will also give the person a firm foundation. Then match this knowledge with real-world experience.