Business question.

Asked about 1 year ago - Los Angeles, CA

Wanted to receive information as to how entertainment management firms are set up. How are entertainment firms, which are formed for the purpose of managing entertainment careers, set up? Is a c corporation more ideal? Is an s corporation more ideal?

Attorney answers (6)

  1. Celia R Reed

    Contributor Level 20

    12

    Lawyers agree

    Answered . You need to sit down with a qualified business attorney, as well as an accountant to answer these questions. The answers will be specifically tailored to your needs. Avvo provides general information but not the detailed advice you need to proceed. Good luck.

    Please note that I am answering this question as a service through Avvo but not as your attorney and no attorney-... more
  2. Ivan Jose Parron

    Pro

    Contributor Level 15

    6

    Lawyers agree

    Answered . Consult with an entertainment attorney for advice.

  3. J. Thomas Smith Ph.D.

    Pro

    Contributor Level 20

    5

    Lawyers agree

    Answered . I agree with my colleagues. Do consult with an Attorney to address the specifics of your situation.

    Law Offices of J Thomas Smith J.D., Ph.D 11500 Northwest Freeway, Suite 280 Houston, TX 77092 713-LAWYER-2 www.... more
  4. Daniel Novick

    Contributor Level 2

    5

    Lawyers agree

    Answered . While there may be similarities between certain entertainment companies, each will be set up in its own way based on the specific facts of each case. The structure of the company will depend on how many partners/members/shareholders there are in the company, how many employees, how many divisions of the company, if any, you want, as well as tax considerations, and the way you are raising capital for the company. There are a number of other considerations as well.

    Moreover, "management" may entail a number of aspects of the entertainment business and you may structure your company differently depending on how many services you will be offering to your clients.

    Because the entertainment business has its own issues that are unique to it, you should certainly consult with a business attorney who specializes in the formation of entertainment businesses, before you make any decisions regarding the structure of your particular company.

    Daniel Novick and The Law Firm of Daniel Novick, PLLC assume no liability for use or interpretation of any... more
  5. Andrew Stephen Roberts

    Pro

    Contributor Level 20

    3

    Lawyers agree

    Answered . I have done a great deal of this work in the entertainment field. Get all you contracts, contacts and legal team set up. S Corp is probably the way to go.

    Andy Roberts
    (818) 597-0633

    Andrew Roberts (818) 597-0633/ (805) 496-7777
  6. Joseph Franklin Pippen Jr.

    Pro

    Contributor Level 20

    1

    Lawyer agrees

    Answered . Your questions require an attorney/cpa to do a detailed fact finding before an answer could be rendered.
    You will definitely need professional help for the best result.

    The answer given does not imply that an attorney-client relationship has been established and your best course of... more

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