A challenging question about tape, money, and copyright law. Dive in!
February 8, 2014 6:53 PM Subscribe
I have come into possession of a very rare item. How can I make a whole lot of money on it?
posted by crazylegs to Media & Arts (16 answers total) 9 users marked this as a favorite
OK, to be totally honest, I haven't come into "possession" of it. I have a friend who has acquired (through entirely legal means, I should add) a very rare and probably unique recording. Without trying to be coy, I shouldn't provide explicit details. It's a recording of a very well-known musician, no longer living, which has never been published or, as far as we know, duplicated at all.
My friend and I are both dealers, so we're interested in making some money on this item. Would it make more sense to sell it outright to a collector, or to attempt to sell it to a recording company in exchange for a percentage of the profits that they would make in reproducing and selling it? [Disclaimer: I am an antiquarian book dealer, so if I say anything that exhibits total ignorance of the music business and/or how recording works, that's accurate.]
According to my friend, who has consulted with a lawyer, he owns the material recording but doesn't own the music that's on it. How exactly does all of this work? What are our options?
I realize that Y.A.N.M.Record.Company.Executive, and will take all advice as amateur. Unless you happen to actually be the above, or a copyright lawyer, in which case, fess up and help me out!