Successful Entertainment Ventures in China Take Patience, Skill, and Vision

By Michael R. Polin
The International Law Offices of Michael R. Polin
Exclusively for InvestorIdeas.com
August 14, 2007

This is first in a series of weekly articles I will be writing for InvestorIdeas.com and I am thrilled to be working with them to be able to share my insights and experience in the world’s most exciting and untapped market for media and entertainment business. My website gives some ideas as to opportunities in China (www.polinlawfirm.com) and the link to my power point on this site also reflects all that can be done there, and this is only the tip of the iceberg as they say.

This first article is shorter because, as I am writing this, I am multi-tasking and packing for Shanghai and then Beijing to launch a new internet site I have developed for China with American Media companies and content. I leave tomorrow morning and will return in September to give you updates on this trip and the Media industries. More on that in future issues.

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So this first foray should be a shot in the arm from me to you…………………WAKE UP AND GET GOING TO CHINA!

Over there!

What is going on way over there and why is everyone talking about China? The answer is simple; everything is going on over there and the world is just beginning to notice .

I have been doing business in China for over 20 years and I have seen the tremendous growth the West is just beginning to notice. It is a fascinating place and full of promise for us all. In particular, as an international entertainment attorney I have been waiting for the world’s largest consumer population to start consuming Western media, and that time is here!

For businesses and entertainment companies with international vision, some of the hottest areas for business include; foreign partnership, investment, development, and co-productions involving feature films, television, original animation, mobile phone content, internet content, publishing of children’s books, CD- ROMs, merchandising, and the licensing of intellectual property rights.

Wow, that was a mouthful! But all of it is true for the savviest of you entrepreneurs.

China is the place but can you be successful?

China is a very exciting country to do business in but success there depends on many factors, including; understanding laws, regulations, the legal system, government support and foreign rights (especially in media and television). Other factors include understanding which agreements to enter into (joint ventures, agreements in principle, etc.), for what purpose (Euro-Sino-foreign co-productions, distribution, manufacturing) and most importantly, which partners and strategic alliances (government and private) to trust and work with. More on all this in later issues but keep in mind:

Success in China must include local and international legal advice and eight minimum expectations:

1. Have clear contract terms.
2. Know your partner. Do your "due diligence," and do it well.
3. Know the rules and beware of offers to bend them in your favor.
4. Search for problems before they materialize.
5. Do a thorough risk analysis.
6. Mind the store. Pay attention to details.
7. Get paid.
8. Protect your intellectual property rights.

China can be a very rewarding and lucrative experience but be smart how you approach doing business there AND be sure you have an advisor or consultant that knows how business is done in China and will act on your behalf with that advice.

This is the first of many articles I will be writing for Investor Ideas on a weekly basis and we will begin regularly in September when I return from China.

I hope you all have a great remaining summer and I look forward to talking, emailing, blogging, ipoding, or iming with you in the near future.

Disclaimer
Michael R. Polin is an independent columnist for this web site. Michael R. Polin may hold long or short positions in any of the stocks mentioned in this article and those positions can change at any moment. InvestorIdeas.com Disclaimer: www.InvestorIdeas.com/About/Disclaimer.asp, InvestorIdeas is not affiliated or compensated by the companies mentioned in this article. Michael R. Polin is a freelance writer. Nothing in the articles should be construed as an offer or solicitation or recommendation to buy or sell any specific products or securities. Past performance does not guarantee future results.

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