The (P) definitely stands for the copywrite of the phonographic material / recording.. Here in the UK its the same © stands for whow owns the actual Lyric, Tune, arrangement. And that's usually the Writer or composer of the song and that one don't of work.. The confusion is when it goes into the studio the recording becomes a second body of work and that is owned by the studio / recording company or record lable and thus labeled with a (P)... So when it later gets publish through a publishing company the company. Know where the royalties need to be sent.. And theos royalties need to be agreed with the Studio, / recording company or record label and the original artist.. So if you have written the song, lyrics, melody ect then you should put... © 2020 Your Name or Group... If you also did the rocording as is so often the case these days you should put (P) 2020 Your name or group.. Or you can you © (P) 2020 your name / group.. However if you've gone to a studio you should pu (P) 2020 studio name.... Unless you have a greed with the studio that because you have paid for the time. In the studio then you own the recording.. However many pro studios will allow to own the tapes or stems that they have recorded but at a price.. As you've only booked the engineer and studio and not the rights to the actual recordings..