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Aaron Jacobson, known as the Music Industry Lawyer, discusses the importance of a band partnership agreement for independent musicians. His platform, Indie Artists Resource, provides affordable DIY contract templates for those not ready to hire a lawyer. He emphasizes that many bands face disputes over rights, band names, and finances due to a lack of clear agreements. Jacobson shares a real-life example of a young artist facing a breakup and uncertainty over song and recording ownership, highlighting the need for bands to establish clear ownership and operational terms in advance to avoid such conflicts.