Imperatives: Contract Drafting And Negotiation Support In The Creative Industry

Introduction

The Creative Industry (CI) consists of various endeavours flowing from individual's creativity, skill and talent, with a huge potential for wealth and job creation. These industries include: film, music, art, photography, marketing and advertising, radio and television, fashion etc. According to the National Bureau of Statistics' Quarter 4 2016 Report, CI contributed 13.76 % of the country's Gross Domestic Product in 2016, indicating its potential to contribute more if properly harnessed. The Government (Federal, State and Local level) and private sector's support towards ensuring CI's sustainability as one of the viable alternatives to crude oil, could make it a force to be reckoned with in the nearest future. For example, the Federal Government (FG) recently included CI on the Pioneer List, conferring eligibility to enjoy Pioneer Status (a tax holiday of up to five (5) years); examples abound of private sector's sponsorship of various CI initiatives