Artists and collectors can minimize estate taxes on artworks by employing a planning strategy and understanding the complexities involved with assessing the work's fair market value.
Category - Corporate Law
Stories about business law and contracts
There are many legal aspects of running an art-related business that could be fairly characterized as less than interesting, but few topics inspire more blank stares, or glazed-over eyes, faster than insurance. Like a lot of legal topics, thinking about insurance requires that we think about negative outcomes – what happens when things go awry – and so it’s natural to want to avoid the topic. But...
In part 1, I talked about several methods for finding companies that would be the most likely to license your art for us on their products. The next step is contacting those companies. Licensing decision makers, especially those working in large companies, are inundated with people looking to speak with them about potential opportunities, so always think about how you can break through all that...
Just like any other startup, opening a successful art business benefits greatly from knowing the right people. For those creative people starting solo or small businesses, access to industry leaders, art attorneys, gallery owners, media publishers and others can help ensure their success. Unfortunately, startups as new entities in the industry, have not been around long enough to interact with...
Every business needs a contract at one time or another. They are everywhere. Whether you are a struggling artist, world renowned photographer or a gallery owner, you will be inundated with contracts from art dealers, agents, exhibitors, publishers, ad agencies, museums as well as non-art industry members like landlords and contractors. If a contract is supposed to make sure that both parties...
Last year, New York City police officers were told that if they see any topless woman in public, they were not to arrest them. If crowds form, just disperse them in an orderly fashion. To test how police would react to that directive, photographer Allen Henson began taking photos of topless women around the city. This past August, Henson and a model climbed to the crowded observation deck of...
It may be surprising to receive a free licensing agreement from an attorney but we think it is so important that we had to do it. Let’s start with a hypothetical scenario. A Story About Latte Art Janet recently opened a local coffee shop, called “The Grind,”. She then hires you as a photographer to shoot the new store and the unique Latte Art that has been drawing customers throughout the...