Chance The Rapper talks about the difference between being independent vs. being signed
Artists usually get it confused and when it really comes down to it, if you are signed, you relinquish your publishing, masters, your intellectual property, everything! Basically, you sell your "soul" in a sense. Up and coming artists are baited with huge advances and don't really read the fine print which is a whole bunch of contract jargon made for the common person to not understand. My advice would be to have a good lawyer and or manager that you trust when you are presented with a contract of any kind, whether it be label, product, branding or whatever. The last thing you want is to be in a contract that does not benefit your career.