In the past there only have been a few artist managers who were able to influence and change the business of popular music. This is mainly because artist management requires a variety of skills, which some people say one has to be born with. Some examples of such, most importantly people skilled individuals, are Colonel Tom Parker who managed Elvis Presley, Don Arden (Small Faces) and Brian Epstein, famous for his involvement with The Beatles.
             The biggest challenge for the artist manager lies in balancing his business acumen and mainly financial interest with the artist need to express his or her own creativity. This paper aims to describe how to best achieve this difficult task.
             SETTING UP OF AN ARTIST MANAGEMENT COMPANY
             As mentioned above, it is the artist manager's responsibility to set up his own framework of doing business and very often he is also involved with the setting up of the artist different businesses. Such examples are own publishing companies or often at later stages own labels. This way business transactions between the manager and the artist and other involved parties, e.g. record companies, are possible and can be made relatively secure. Because the artist manager will not have the time for all aspects of his business operations, he often has to choose and supervise the involvement of additional accountants, advisors and lawyers.
             When establishing his business the manager has a choice of different company types available in the United Kingdom. He could choose to operate as a sole trader, in a partnership or as a limited company.
             If the manager just starts a business for the first time, to get more experienced in the field, he might decide to work as a sole trader, the most simple and inexpensive way of starting a business.
             As a one-man business incorporates, the manager will have to provide his own finance, takes all the risks involved, but on the other hand does not have to share any profits with...