Help with contracts regarding music law

[musicproducer]

We (a partnership) produced all of the music (original music) and lyrics (lyrics were done in collaboration with a second party) and co-wrote some of the lyrics to a jingle for a restaurant chain. The restaurant chain wants to pay us for the jingle for its use for 1 year for the sum of $100,000.00 hypothetically. We will be giving the restaurant chain an audio Master for radio broadcast and an audio Master for TV broadcast (they will adapt their TV commercial to the music). We and the second party are entitled to all of the royalties from the radio and TV use of the jingle.

So I have two questions:

(1) What kind of contract(s) should we give to the restaurant chain or what kind of contract(s) should we be receiving from the restaurant chain?

Our partnership will receive 100% of all proceeds and will disperse 40% of that to the second party (which includes the payment from the restaurant chain and broadcast royalties).

(2) What kind of contract(s) do we need to have between the partnership and the second party?

 

[Michael Wechsler]

If you're getting paid such a large sum of money, hypothetically, your best bet is to have an experienced entertainment lawyer do the contract. My suggestion is due to how complex these things can get, especially if you're dealing with a large restaurant chain that probably has designs on using the jingle in more than just one place. Your scenario hasn't even addressed issues that extend beyond TV and radio use.

Let's deal with the first question - who is supposed to be providing the agreement, their lawyers or you?