Recording Engineer is absoloutely right.
There is no "set standard" anymore in the music business, as far as rights to songs, record labels, etc.
My partner and I have recently talked to ASCAP reps, who stated that you don't even have to have a record label to release your music.
Listen to what I'm saying here, because this is the BEST possible advice you'll ever get in regards to retaining ALL the rights to your own music....
Record it yourself, publish it yourself, register with ASCAP or BMI (musicians unions) and let them collect your royalties. That's the way to make the most money for yourself, without publishers and record labels taking a huge chunk of the profits.
Like Recording Engineer said... nothing is "standard" anymore.
Also, Rev E is wrong about "everyone who plays on it and contributes money for gear" gets credit for the song...that is NOT correct.
The person or persons who came up with the chord progression, melody and the lyrics (whether it was one person or co-written) is/are the author(s). Technically, the song is copyrighted from the first time you have it written and arranged. Recording it and sending it to the Library of Congress is the "guarantee" that you are the author(s).
Everyone else who plays on the recording are just considered "musicians for hire", which is also listed on the copyright form.
I mean, you write this killer song... music, melody, and lyrics... then you arrange it and produce it. Does your drummer (who can't even spell the word "cat") deserve songwriting credit and 25 percent of the profit for putting a beat on it?
Absoloutely not! He is a musician for hire!
Look, I'm in the process of finishing up a 10 song CD of original music, and I've been talking with ASCAP, BMI, entertainment lawyers, independent promoters, and other people in the music business. I don't claim to know everything, but we're striving to put out our music on a national and possibly an international level, while retaining as much of our own rights and maximum profits as we can possibly get. Isn't that the point of it all?
Let's beat the "big boys" at thier own game. To hell with the greedy middlemen.