glad to be of service.
Of course, when you join the PRO, you can also ask them detailed questions and they will likely point you to their web site FAQ section.
Poke around in the PRO web site to learn about the business end of the business.
Another nice source to read on this is... or was called This Business of Music. It explained all that stuff in more agonizing detail than you could possibly want to know..... obviously written by a lawyer.