It's always a good idea to get into the habit of deciding on songwriter splits or percentages sometime shortly after a song is written. This ensures the process and what everyone has brought to the table is still relatively fresh in everyone's minds and much easier done before any opportunities for that song arise, particularly if other parties become involved down the track.
You can make your own notes or use a Songwriter Split Sheet which can contain information such as:
- Song title
- Date(s) of writing session
- Recording artist
- Record label (if they have one)
- Studio name
- Studio address
- Any samples contained?
- Album and artist where sample originated
- Composer(s) and: their address, phone, publisher, PRO affiliation, percentage of lyrics, percentage of music, IPI/CAE or social security number, signature.
Entering songwriter splits and information will be a breeze if you already possess the correct details when uploading versions of the finished recordings. This, in turn, helps get your song placed with a buyer who is, more often than not, on a tight timeframe.
Overall, it's good to remember that magic from a song can be created by an individual or by a particular combination of participants. Contributions from a guitarist who creates that unforgettable hook can be just as valuable as a set of lyrics from the lead singer. So while working out percentages, state your own value with confidence, value contributions from collaborators, be honest and be fair.