TRANSFER OF RIGHTS AGREEMENT

This model contract is offered as a template as part of the electronic service offered by MGM on its website, so that parties interested in performing this transaction may make use of it, without having MGM's direct interest or being part of this contract. This contract has been drafted taking into account the international legal regulations and the international agreement on the protection of copyright, established by the Berne Convention, last amended on September 28, 1979, and by which most countries are currently regulated and harmonized in the field of intellectual property.

  • This agreement includes, on the first hand, the Licensee, interested in obtaining the exploitation rights of the Work and making use of it according to the conditions established in this contract, within the limits of the international legal regulations. On the other hand, the Licensor, as the original author of the Work, original holder of the exploitation rights of the Work, which are the main object of this contract, and the moral rights of the Work.
  • MGM is a portal and directory for the purchase and sale of Track exploitation rights and music production services; MGM offers only technical support and online tools for the sale of these rights by their authors and the purchase of them by third parties, under the conditions stipulated by the Authors of the Tracks. MGM only acts as an intermediary, offering its technology so that the songs can be heard on its platform by potential Buyers of the rights to exploit them.
  • The Licensor agrees to offer all the exploitation rights of the Work he publishes on this platform, under the conditions established in this contract, in exchange for a price fixed by him, and which is paid in a single, one-time payment (which can be divided into 2 or more parts depending on the type of service offered). MGM is limited to managing the collection of the price offered by the Author of the Work.
  • The Licensee agrees to make the corresponding payment, managed by MGM, in exchange for receiving the files of the Track offered on the platform, and all the copyrights of the work, with the conditions described in this contract, within the limits of the international legal regulations. This payment is irreversible and non-refundable.
  • The Licensor claims to offer a Track created by him, completely original and not containing illegal samples. On the contrary, if it contains Original Samples, they will be correctly specified in the product description by him.
  • The Licensor claims that his Work has not been disclosed, meaning it has not been registered in any intellectual or virtual property office, in any database or administration of any kind, and that it has not been shared with third parties or published on any website.
  • The Licensee obtains an original Track, understanding that the Track may contain legal free royalty use samples or licensed loops.
  • If the licensed Track contains Original Samples, it will be announced in the product description. In this case, the Licensor only includes in the License all the production that accompanies this sample, but not the rights to the Original Sample itself, which would correspond to another original author without any relationship with the Licensor, MGM, and this license. The Licensee would be responsible for managing the original rights of this sample with the original author who created the sample, as well as any management or publication with respect to this Original Sample. In any case, any Original Sample is not the subject of this license or transaction.
  • The Licensor transfers all the exploitation rights of his Work to the Licensee through an exclusive, unique, permanent, irrevocable, irreversible, unlimited, worldwide, and sub-licensable authorization. The transfer of rights includes (but is not limited to) the exclusive right to publish and/or record and/or reproduce and/or distribute and/or adapt and/or make available to third parties and/or transfer the Composition as well as the Recording (in whole or in part), all in the broadest sense and regardless of the form or medium in which the relevant act is performed (currently known or known in the future). Publication also means distribution, rental, loan, recitation, public performance, or broadcast of all or part of the Composition and/or Recording or reproduction thereof, regardless of the technology or medium used for such publication. As a result of the transfer described in this agreement, the Rights transferred in each Composition and Recording will fall into the Buyer's assets as soon as the Buyer pays and MGM receives the money for the Track.
  • The Licensee is responsible for using the Track acquired under the conditions established in this contract and within the international legal regulations, as well for respecting the integrity of the Author's work and not violating any of their moral rights.
  • The Licensor, being aware of the inalienable and permanent moral rights acquired over the Work automatically as its natural creator, which includes, among others, the Author's right to decide if and how his Work is to be divulged and to determine whether such divulgation has to be made under his name, under a pseudonym, sign, or anonymously, and to demand the recognition of his condition as Author of the Work and respect for the integrity of the Work, states that:
    • All the expenses that the Licensee has invested in the Track to which this license refers: promotion, management, video clips, artworks, advice, etc.
    • A penalty of minimum 50,000 EUR up to a maximum of 500,000 EUR; (this amount is considered a penalty, regardless of the damages caused).
    • Compensation for the damage and prejudice caused.

    It is stated, included, and recognized in this contract, the consideration of the moral rights that the Licensor holds in a permanent and persistent way, the Licensor understands that the clauses included in Section 11 are key for the development of the object of the transaction, and if he decides to undo any of the clauses included in Section 11, he would be taking advantage of our service and the Licensee in an act of bad faith. In this case, the Licensor must pay to the Licensee:

    • All the expenses that the Licensee has invested in the Track to which this license refers: promotion, management, video clips, artworks, advice, etc.
    • A penalty of minimum 50,000 EUR up to a maximum of 500,000 EUR; (this amount is considered a penalty, regardless of the damages caused).
    • Compensation for the damage and prejudice caused.
  • The Licensor will benefit from the right of equitable remuneration so that if the rights generated by the exploitation of his Work are disproportionate to the amount fixed by him to sell the exploitation rights of his Work through this website, he will be entitled to make a review of the fixed remuneration and to receive equitable remuneration for the rights generated (equitable, but taking into account all the effort and investment that the Licensee has put into the Track). In this case, if there is a right of equitable remuneration, the platform will participate in a percentage of them (5%) as an intermediary in the signing of the contract of Ghost Production.
  • The transfer of rights takes place when MGM, as an intermediary and manager of the monetary transaction, receives the payment from the Licensee.
  • The Licensor will not share any information about any transaction made through MGM with any third party.
  • The Licensor is obligated to provide technical support regarding the sold and licensed Track files for one year after the Track is sold. The Licensor is also required to provide any administrative support, such as signing or filling out information if necessary.
  • MGM cannot be held liable by the Licensor or the Licensee for any infringement or legal problem concerning the Track. MGM will only act as a mediator or intermediary, within its capabilities, between Licensor and Licensee. If you have any complaints, please contact MGM using the address details on the contact page or at the end of the Terms and Conditions.
  • MGM cannot be held liable by the Licensor or the Licensee for any infringement or legal problem concerning the Track. MGM will only act as a mediator or intermediary, within its capabilities, between Licensor and Licensee. If you have any complaints, please contact MGM using the address details on the contact page or at the end of the Terms and Conditions.
  • To the fullest extent permitted by applicable law, the Licensor and the Licensee agree to indemnify and hold MGM harmless from any damages, losses, and expenses of any kind (including reasonable attorney's fees and costs) arising from: (1) Licensor's or Licensee's breach of this Agreement; (2) any Content; (3) any activity in which you participate in or through MGM's services; and (4) your violation of any law or the rights of a third party.
  • MGM, as an intermediary of this contract, maintains a copy of the Master of each licensed Track, associated directly with the data of the Licensor, Licensee, and this contract in order to identify each transaction.
  • MGM may provide all Licensor or Licensee information to the respective counterpart of this agreement, if necessary (legal dispute, administrative issues, tax issues, etc).
  • In this same document, their respective names (censored) are included and shared between the Licensor and Licensee.
  • “MGM” or “My Ghost Market” is understood as: My Ghost Market Limited, with registered office address at Lege 5 floor 2, Sofia 1000, Bulgaria.
  • By accepting this agreement, you also accept all our Legal terms: https://edmwarriors.com/legal
  • You agree to submit to the courts of Sofia, Bulgaria for any conflict with the legal terms of this agreement.
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