The need for experienced representation was made several months ago in the case of Napoleon Pictures Limited v. Fox Searchlight Pictures, Inc.. A key factor in the decision, the definition of net profits, was discussed in some detail by Matthew Belloni at Hollywood, Esq. It's easy to rush forward when it comes time to enter into deal memos and contracts to get the deal done but the consequences can be costly.
The true value of an entertainment attorney might not be readily apparent when everything goes smoothly. But when things go wrong, you can bet they will be worse when you've done it on your own and possibly glossed over finer points that an attorney might have flagged as danger areas. Net profits is just one such area that is filled with potential landmines. Both sides have a vested interest in making sure the definition of net profits favors his or her side. A safe bet is to make sure you're not signing something without a full understanding of the contract or agreement.
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