Third, the writers must agree that if expenses are incurred for the preparation or presentation of the song, each of the writers shall be responsible for a percentage of the expenses. The percentage is usually in the same proportion as would apply to the net profits.
Fourth, it should be agreed that expenses shall only be incurred upon all parties' consent.
Fifth, the writers should agree that at any time before the song is placed with a publisher, the writer may withdraw his/her collaborative contribution freely, provided that he/she shall have no claim to, or rights in, any subsequent collaboration on that particular song.
Sixth, the writers should agree that the collaboration agreement only applies to the song listed, and no other.
Seven, the date, signatures, addresses and social security numbers of the writers should be included at the end of the agreement.
So that there is no confusion as to rights and profit splits, when two or more persons write a song together, a simple agreement including the above will make life much easier if and when the song makes money.
Ben McLane Esq