Distrbution through BlastIPTV

Hey guys,

A couple days ago I was contacted by a company called Cybermesh Systems after applying to be a content producer on a site called BlastIPTV... these guys are looking to combo the internet onto people's TVs and create "channel-like" experiences on the internet (the BlastIPTV website is really just a tech demo).
Did the basic research and they seem to check out as legit.... good so far...

Aaaannnyyyhoo,

They've gone and sent me a contract that I'm going to have to sign for ad revenue splits, but unlike simple sites like Revver, this is more of a "contract" contract.

So right now I'm trying to figure out the best way to proceed, and in such cases, the #1 source for information is always the collective creative filmmaking brain of Indietalk... so here goes...

1) If anyone has experience reading legalese contracts and would like to give it a read over and help me out on any gray areas, shoot me an email at godofwine007@gmail.com - that's an arduous task, but if you're looking for distribution online yourselves, I'd be more than happy to give you a referral in return (though it wouldn't be my call- I can just point a finger at this point)

In the email they sent and in the phone calls, they asked me "if there's anything you'd like to change, let us know", which to me means "read the contract and if you find the 'catch' we'll take it out to reward your clever astuteness"

2) I'm planning putting the shorts and sketches that I've PRODUCED and DIRECTED under my own name as a "sole proprietorship" kind of deal to start. Not likely to get sued over those in any case...

After testing the water with my sketches and shorts to see if this method will actually bring in revenue, I'll figure out what to do with our feature film (Macbeth 3000). FOR THAT, I was thinking about "incorporating"... but that costs about $400 and then I have to do corporate taxes.... when I asked my boss (the president of the company I'm working at), he said if you're not going to make $30,000/year, don't bother incorporating... corporate taxes require expensive legal and accounting fees...

So what do you guys think? Best route? Just put it all under a registered sole proprietorship and play with the taxes and liability on a personal level? Or incorporate and spend $400 to get an expensive corporate shell to serve as a barrier between me and lawsuits, but cut into the minuscule profit I expect to make (lowered expectations always yield good results).

I'm only being so cautious about our feature- I don't want to sign a contract in my name because technically In wasn't the director, and a lot more people were involved in that- if, for instance, the movie did make $5000 in revenue, I'd have to claim it on MY taxes... and if I decided to pay-out the other producers (there's really no agreements for this in writing, we made the damn thing in high school), I'm really not sure how that would all work out.

If you were me, what would your plan be?

Obviously I'm a little excited, because I've considered "Macbeth 3000" to be a "dead project", but now here's a chance to get it ONLINE, with FREE (ad-based) viewings for everybody! But at the same time, I can't let the optimism rush me- so who wants to take a stab....

I've got a slew of short films and sketches to test the water before the feature- would you incorporate for those, or what? Or what?!!!!

Thanks in advance!
 
Well, I ended up getting several opinions (one from a friend of an aunt lawyer) basically approving the terms (as in there were no special anomalies I had to worry about). But right after signing and sending in, they reworked the idea (probably because the paper contract makes people nervous) and streamlined it into an online terms of agreement. THANK GOD.
Much simpler.

Anyway, I just got all my uploading access and I'm going to upload a couple shorter works tonight or tomorrow. Harmeet, our sound guy, who's back in Boston right now will be uploading the best quality version of our feature once he's had some time to re-unpack.

I've also decided to pony up the risk and put this under the ol' self prop business model. I don't have the time or money to start up a corporate fandango right now and I have a feeling I'm not going to get sued (or make any money), so whatever. Famous last words.

I'll be sure to make a big stink here when it all goes online.
 
can't wait... My son quoted your "Beth, Macbeth" in a paper he wrote for school... another friend wants a brillo pad for his brain, the concept hurts him. He had e-mailed me about Hamlet 2 (with an all new cast - obviously) and I sent him to your site. His brain is a bit fragile, it snapped ;) So, I've been pimping your site around to folks a bit, hope you don't mind.
 
can't wait... My son quoted your "Beth, Macbeth" in a paper he wrote for school... another friend wants a brillo pad for his brain, the concept hurts him. He had e-mailed me about Hamlet 2 (with an all new cast - obviously) and I sent him to your site. His brain is a bit fragile, it snapped ;) So, I've been pimping your site around to folks a bit, hope you don't mind.

Oh no, sorry about your son. :D Hopefully after a few years of locking him in the basement and prodding him with electrical wires he might be salvageable. As for you, I'm afraid if you're pimping our website, you're already beyond repair. ;)

And Hamlet 2 looks amazing.... but more so because I'm glad to see Steve Coogan in the lead!
 
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