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The Master Recording Split Agreement is essential when multiple parties contribute to the creation of a master recording and need to formalize their ownership and revenue rights under Irish law. This document is typically used after the recording process is complete but before the commercial exploitation of the recording begins. It clearly delineates each party's ownership percentage, establishes mechanisms for collecting and distributing revenue, and outlines rights for licensing and exploitation. The agreement ensures compliance with Irish copyright law and EU directives, particularly regarding sound recordings and performers' rights. It's crucial for preventing future disputes and providing a clear framework for the commercial exploitation of the recording, making it a fundamental document in professional music production and distribution.

1. Parties: Identifies all parties to the agreement, including legal names and addresses

2. Background: Explains the context of the agreement, including the creation of the master recording and the parties' intentions

3. Definitions: Defines key terms used throughout the agreement, including 'Master Recording', 'Net Revenue', 'Territory', etc.

4. Ownership of Master Recording: Specifies the percentage split of ownership rights in the master recording between the parties

5. Revenue Split: Details how revenue from the exploitation of the master recording will be shared between the parties

6. Distribution of Income: Specifies the mechanism and timing for distributing revenue between the parties

7. Accounting and Audit Rights: Sets out the requirements for financial reporting and the right to audit accounts

8. Exploitation Rights: Defines how the master recording can be used and who has authority to license it

9. Credit and Recognition: Specifies how parties should be credited on releases and promotional materials

10. Representations and Warranties: Contains parties' assurances about their rights and ability to enter the agreement

11. Term and Termination: Specifies the duration of the agreement and circumstances for termination

12. Governing Law and Jurisdiction: Specifies that Irish law governs and Irish courts have jurisdiction

13. General Provisions: Standard boilerplate clauses including notices, entire agreement, and severability