I am happy to split 50%, but does he have to be down as a co-writer to get a piece of the publishing? Can I state on the contract that I'm giving 50% to him but I'm the sole writer?
I would suggest checking the terminology they are using and what they mean - I actually think they probably want 100% of the publishing, which represents 50% of the total income from the song
Let me explain...
When you write a song you own 100% of the writer's share and 100% of the publisher's share
Generally speaking the income generated by a song is divided equally between the writer's share and the publisher's share - so if you sold a song for £1 you would get 50p as the writer and 50p as the publisher
So in this example 50p = 100% of the writer's share and 50p represents 100% of the publisher's share
When you sign a publishing deal you usually give away 100% of the publisher's share, which equals 50% of the total income the song generates
You need to be totally clear if they are wanting the 50% of the total income of the song (ie 100% of the publisher's share)
OR
Do they want 50% of the writer's share (your share) as well?
In this case they would take 100% of the publisher's share, which represents 50% of the total income the song generates (which is normal for a publishing deal) AND they would get 50% of the writer's share (if you split the writer's share equally)
In this scenario for every £1.00 the song generates the publisher would get 0.50p, the artists would get 0.25p and you would get 0.25p
I still think this is a good deal for an unknown writer looking for a break - in this case the artist would likely go down as a co-writer. You could ask to be listed as the only writer but still agree to give him 50% of the writer's share
Also, aren't contracts usually dealt with AFTER the song has been recorded and produced?
No - it is never too early to get these things sorted out - imagine if they spent thousands getting the song recorded & produced and you then refuse the deal they are offering! Getting everything signed, sealed & delivered early is a good sign that you are dealing with experienced people
All of the above only comes in to play when the song starts making money
Even the worst case scenario above would give you 25% of the income from the song - this is better than 100% of nothing for a song sitting on your PC that may never see the light of day