CD Baby has partnered with Cosynd to offer an affordable legal services platform to document ownership of content. Launching next month, the partnership will enable members to create basic copyright ownership agreements and split sheets, and then to register with the U.S. Copyright Office.
CD Baby members will receive 1 month of free access to Cosynd’s Essential and Premium tiers, which will enable them to create unlimited copyright split sheets, full copyright ownership agreements and work for hire agreements.
An estimated $2.5 billion in “black box” royalties have gone unclaimed, because of a lack of available ownership data. Creators seeking to resolve matters of ownership and infringement are ineligible to file lawsuits unless they have registered with the U.S. Copyright Office, and without an ownership agreement, collaborators that created a copyright have an equal claim of ownership and rights by default, regardless of the size of their contribution under U.S. copyright law.
“There is more content being created and more opportunities to monetize that content than ever before. If you’re a creator, documenting ownership of your copyrights is a crucial step from the beginning - otherwise you won’t get paid! Disputes arise, liability increases, lawsuits ensue, and we all suffer the losses,” says Jessica Sobhraj, CEO of Cosynd.
Whether creating a fast split sheet or a more extensive copyright ownership agreement, Cosynd walks creators through building a custom agreement by asking a series of questions in non-legalese.
“Making it easy for artists to manage the rights around their music catalog is a key part of being a total monetization solution. Our partnership with Cosynd provides these tools in a very accessible way,” says Tracy Maddux, CEO of CD Baby.