People too often ignore the legal issues surrounding recording. To say they do this at their peril is an understatement. If, for example, you create a song with several members in your band and do not clearly define the percentage ownership of this song, you are setting yourself up for a nightmare of legal contention.
Additionally, many, many "record deals" involve someone paying for someone else to go into the studio and record. You must understand all of the consequences of such an arrangement.
Further, seemingly simple things such as recording someone else's song (a "cover") can have serious legal implications; as can so-called "work made for hire" agreements in which a musician is given a one-time fee for her performance.
This section of the Artists House website is a crucial one, so please take the time to check out the resources we have here to help you understand the legal issues surrounding recording.