Contract: A contract is an agreement having a lawful object entered into voluntarily by two or more parties, each of whom intends

to create one or more legal obligations between them. The elements of a contract are offer and acceptance by competent persons having legal capacity who exchange consideration to create mutuality of obligation.

Live Performances: Performing rights are the right to perform music in public. It is part of copyright law and demands payment to the musics composer/lyricist and publisher (with the royalties generally split 50/50 between the two). Public performance means that a musician or group who is not the copyright holder is performing a piece of music live, as opposed to the playback of a pre-recorded song. Performances are considered "public" if they take place in a public place and the audience is outside of a normal circle of friends and family, including concerts, nightclubs, restaurants etc. Public performance also includes broadcast and cable television, radio, and any other transmitted performance of a live song

Licenses: A license may be granted by a party (licensor) to another party (licensee) as an element of an agreement between those parties. A shorthand definition of a license is an authorization (by the licensor) to use the licensed material (by the licensee). In particular, a license may be issued by authorities, to allow an activity that would otherwise be forbidden. It may require paying a fee and/or proving a capability. The requirement may also serve to keep the authorities informed on a type of activity, and to give them the opportunity to set conditions and limitations.

Copyright is used when protecting a piece of music. This insures that anyone who took part into creating the piece of music are just as equally rewarded as the Artist. This therefore protects the value behind any sale or download. Overall the real value is protected by the rights and creativity.