Option
Type: noun
Pronunciation: /op-shun/
Also spelled or known as: Contract Option
Plural: Options
What does Option mean? A contractual right to extend or continue an agreement.
In music contracts, an Option may allow a label, publisher, or company to require another album, term, project, or service period.
Option synonyms: Contract Option, Extension Right, Renewal Option
Example sentence: “The label exercised its option for a second album.”
PRE-ORDER RECORDING BUSINESS DICTIONARY