Determine the percentage. In a transfer, this will normally be the same as what was stated in the original license.
Determine the length. Every music license has a specific length of time that it will be good for. A transfer may have a different length of time than what's on the original license. This can theoretically be as long as a week to several years. A transfer can transpire but a new license may have to be obtained.
Determine the specific usage. The most well known applications where music is used are in CDs/phonorecords, digital downloads (MP3s, WAV, AAIF, WMA), movies, television, radio and advertising. A music license transfer may cover all or a few of these.
For example, many royalty-free arrangements state that the music can be applied to personal projects such as podcasts and Internet videos but cannot be used for film and television in addition to being a part of any music library.
Figure out compensation. This can be as much or as little as the creator wants to charge. There is no set rate or market value. This can be administered as a one-time fee or in exchange for a service or product. In addition, there may be a transfer fee that has to be paid.
Construct a clause. Clauses are simply parts of an agreement that define the parameters of an individual stipulation or circumstance. It requires looking into the future or outlining a distinct use of a license and how it will be handled. This is where transferring a music license can be dealt with. The specifics are left up to the creator.
For example, a transfer clause may state that the licensee--the entity being granted the license--must contact the licensor in writing and that a new agreement must be made to transfer the license to a third party. Or it may state that the licensee may have the permission to transfer the license given that they inform the licensor of the new details on the licensee for the purposes of payment.