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Does anyone know what happens if you have song(s) with a non-exclusive licensing company and they go under? Can you get your songs back? Or, what about if that company sells to someone else? I don’t understand how a non-exclusive can be sold.
Any thoughts would be appreciated.
Thank you,
JesseI’m not sure I understand your question–non-exclusives are, well, non-exclusive. If the licensee goes under, why would you need to “get your songs back”? You never gave them up in the first place. If they get bought by another company, presumably those non-exclusive licenses would be transferred to the new owners along with all of the original company’s other assets. Again, not an issue for you, right? Is this an academic question, or do you have some specific real-world concerns in mind?
No problem, we’ve all been there… 🙂
Actually, it is a valid question because even if the library that goes out of business was non-exc, what if you now what to sign the track(s) with an exclusive library? You might have an issue because you are not sure whether you can truly enter an exclusive contract. What if there were placements you weren’t aware of? What if there are still hard drives floating around with your track, previously paid for under a blanket license?
Don’t have all the answers but I would definitely be careful before signing any exclusives for the track(s). Of course, if you only wanted to sign non-exclusives, it’s moot.