Talk of The Town: To Label or To NOT Label

In todays music industry, the independent artists have the power to become his own force by being his own label. Even though the major labels control the music industry, the music industry stays afloat due to the independent artists. However by keeping the music industry afloat, some of the independent artists lack knowledge on what it takes to operate a legitimate and consistent label. What are the basis of a record label? What are the key positions that are needed in forming a label? Is it necessary to call yourself a C.E.O. and you are an artist, and you DO NOT have anyone working under you? What are the estimate start up cost in starting a label? What is the proper process of making you label legitimate? Can you sign an artist under a simple contract? And lastly what's in a name? (your labels name) why making the right choice in a label name can make or break you.