Signed in blood, the contract between Britain's Factory Records and its artists was worth nothing to the label.

The Manchester music label gave artists like Joy Division and the Happy Mondays full control over their music. When Factory Records faced financial ruin - due in part to the enormous bills run up by the Happy Mondays in recording - a richer rival wanted to buy it, but a deal was impossible because Factory owned nothing. In spite of the dramatic stains on the contract, its message was crystal clear. The artists owned their work, not the company.