And IF you get a record deal - HAVE A LAWYER LOOK AT IT FIRST!
There are many fine print type of things...
And when/if you get signed, demand that once your band has finished paying back the money for recording or whatever money the record label at first loan you, that your band gets all the rights to your songs. I don't know why the rights to sound recordings belong to the record label for good...in my opinion they should transfer to the artist once recording fees have been paid back...
*Frowns*