ELO Media General Terms and Conditions of Business
The Importance of Reviewing a Video Production Company’s Terms and Conditions of Business Before Commissioning Them
You’ve found the perfect video production company to produce a commercial for your product. They have an extensive portfolio, their price is within your budget, and they’re available when you need them. So what’s the problem? The contract. Before you commission any video production company, it is essential that you review and agree to their terms and conditions. Here’s why:
Ownership of the Finished Product
The first and most important thing to understand is who will own the finished product. In some cases, the video production company will retain ownership of the video and can refuse to hand over the final product if you don’t pay them in full. Even if they do agree to transfer ownership to you, there may be restrictions on how you can use the video. For example, they may limit the number of times you can show the video or where you can show it (e.g., only on your website or only in the UK). Be sure to get all of this in writing so there are no surprises down the road.
Intellectual Property Rights
It’s also important to understand who will own the intellectual property rights (e.g., copyright) in the finished product. In most cases, the video production company will own the copyright but will grant you a “license” to use the video in certain ways. This means that even though you paid for the video, you may not be able to do things like make copies of it or post it on YouTube without the company’s permission. Once again, make sure these terms are clearly spelled out in the contract so there are no misunderstandings later on.
Delivery Date and Payment Terms
Most video production companies work on a “work-for-hire” basis, which means they will only start work on your project once you have paid them in full. Be sure to agree on a delivery date for the completed project and get it in writing so there is no confusion later on. It’s also important to understand when and how you will be expected to pay any additional costs that come up during production (e.g., for locations fees or additional cast members). Make sure these terms are clearly outlined in the contract as well so there are no surprises down the road.
Conclusion:
As you can see, there are many important things to consider before commissioning a video production company. By taking the time to review and agree to terms and conditions of business beforehand, you can avoid any potential problems down the road. And that will save you time, money, and headaches in the long run!