An Agency Agreement is a legal contract that creates a fiduciary relationship between one party (an “agent”) and another party (a “principal”). By signing the agency agreement, the principal is agreeing that the agent represents the principal in a certain area, such as real estate or entertainment, and that the agent has the power to make enforceable agreements that bind the principal. The legal concept employed in agency agreements is that of “authority”, meaning authority is given by a principal to an agent to conduct business on his or her behalf.

When a written Agency Agreement is signed, it is said to confer express authority onto the agent. Without a written agency agreement, the agent may still have implied authority to act on the principal’s behalf. However, many states employ the “equal dignity rule” whereby the agency agreement must be in writing if the later agreement would also necessarily be written, such as a contract to buy real estate or thousands of dollars worth of goods.

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Insider Agency Agreements for Top Airlines Released

The Agency Agreement for popular airline JetBlue was made available today by online legal document provider RealDealDocs.com.

JetBlue Airlines entered into an agency agreement with Wilmington Trust Company in November of 2006 that named Wilmington Trust as the JetBlue reference agent. Another airline, Continental Airlines, also used Wilmington Trust Company as a pass through trustee in dealing with their escrow agent Wells Fargo Bank.

An agency agreement is a legal document that creates a fiduciary relationship whereby the first party (”the principal”) agrees that the actions of a second party (”the agent”) binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.

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The contracts, agreements and clauses available at RealDealDocs.com are the actual legal documents used by both the smallest of small capital companies as well as Fortune 500 companies alike. The legal documents at RealDealDocs.com have been drafted by the nation’s top law firms for some of the top companies in America.

RealDealDocs.com helps to cut drafting time in half and provides unprecedented insight into the deal structures of the world’s largest companies. The legal documents may be searched for by category, law firm, parties involved or by the state of the governing law. Visitors can search the extensive RealDealDocs.com database absolutely free and members of the site may also download, copy, edit and print unlimited legal documents for their own personal or business use. Visit RealDealDocs.com for more information, membership options, and free legal document searches.

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(Venice, CA) One of the leaders in online legal documents, RealDealDocs.com, has released a free preview of the Linens ‘N Things Agency Agreement. The agreement was drafted by a number of top lawyers, including 2008 Amlaw Honored law firm Wachtell Lipton. To view the Linens ‘N Things Agency Agreement from RealDealDocs.com, click here.

An Agency Agreement is a legal document creating a fiduciary relationship whereby the first party (”the principal”) agrees that the actions of a second party (”the agent”) binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements. Basically, an agency agreement denotes a relationship in which one person has legal authority to act for another. The typical agency agreement relationships are those between a guardian and ward, executor or administrator with a decedent, and an employer with an employee.

The Linens ‘N Things agency agreement could be classified as an employer-employee agency agreement. The agreement lays out the terms by which the Tiger Capital Group will sell all of the Linens ‘N Things merchandise due to the store filing bankruptcy.

As the economy slips into a recession, more and more businesses are closing their doors. Going out of business sales have become a staple in American capitalism. In order to pay off debts and sell their businesses, companies opt to elect financial corporations to sell off their wares, as in the Linens ‘N Thing agency agreement.

RealDealDocs.com is an online legal document resource that hosts a number of agency agreements for all types of purposes, including that of the Linens ‘N Things agency agreement. The website boasts over a million different legal documents from agreements to contracts to clauses and more for use as samples and templates.

The legal documents at RealDealDocs.com are drafted by the top law firms of the country and are used by both the largest corporations and the smallest of small capital companies alike. Lawyers, laymen and entrepreneurs utilize RealDealDocs.com as a shrewd business tool to see how the biggest and most influential business deals are made.

RealDealDocs.com is a membership site, and while everyone is welcome to search their many legal documents and view previews of those documents, members have the additional option to download and print the documents for their own use and convenience. The legal document database at RealDealDocs.com can be searched by category, law firm, legal parties, state and more.

To search for Agency Agreements by state, click here.

To visit the RealDealDocs.com database, click here.

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In the world of film, art, and music, most artists of significant clout or talent are represented by agents who are charged with the responsibility of trying to find work for the artist. For the new actor, musician, writer or director, an agency agreement can be an intimidating document. This article will try to shed some light on the most important provisions of an agency agreement and what the new artist should look out for before signing one.

1. The scope of the representation.

An artist must first decide how broad they want their agent’s representation to be. Does the artist want their agent to represent them just in one area such as filmed entertainment? Or do they want an agent who will shop them around in all sorts of circles, looking for deals in the worlds of television, commercials, theater, and music? Some agents have a specialty and only operate in that medium, but some agents, if given the opportunity, would like to represent an artist across the board. The artist must decide if she wants to have different agents for each medium or one agent across the board.

In addition, the artist must decide if she wants her agent to represent her in respect to one or more of her existing works, or in respect to all of her existing and/or future works. A writer, for instance, may want to hire an agent to represent her in respect to just one completed script, or in respect to all future scripts she may produce. And what about geographic scope? An artist with international appeal must decide whether their agent will be representing them all over the world, or just in a specific country or region.

Overall, it is important for the artist to determine the scope of the agent’s representation and to have her lawyer draft these respective provisions accordingly. Generally, the agent will be given exclusive rights to representation in one or more certain artistic mediums (film, TV, music), and one or more geographical regions, and the agreement should define clearly what artistic mediums and what geographical regions the representation covers.

2.Term of the Agreement.

The next important provision addresses the issue of how long the agreement is to remain in effect and whether and when it is terminable by either party. Agents tend to ask for at least a three-year exclusive agreement, sometimes longer. However, a savvy artist’s attorney should try to include a termination provision whereby the agreement is terminable by the artist after a certain amount of time, maybe six months or a year, if the agent fails to meet certain parameters. The key here for the artist is to include a termination agreement so they have an opportunity to take back the rights to exclusive representation if the agent is unsuccessful in his efforts to secure a deal.

3.Commission.

The agent receives compensation by taking a percentage of all employment deals he secures on behalf of the artist. The agent’s rate of commission is generally set by standards in the particular industry, generally 10-15% in film and television, and a bit less in music. A new artist with little leverage will have a very hard time negotiating down this commission, but rather will want to make sure that their agent’s commission is in line with industry standards, and not unjustifiably higher. The artist should also note that if the scope of the representation agreed on is broader than that which the agent usually services, the agent may charge a higher percentage for those areas outside his specialty.

4.Key Person Clause.

Finally, if an artist signs an representation agreement with a particular agency, she may want to include a “key person” clause. Usually an artist will be working closely with a particular agent at that agency. Like many “players” in Hollywood, agents tend to move around a fair amount and often switch agencies. Thus, the artist may want to reserve the right to terminate the agreement if the “key person” originally involved with the representation leaves the agency.

These are some of the most important provisions of agency agreements that an artist or artist’s attorney should pay particular attention to when reviewing an agency agreement.

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An agency agreement is an important contract for any artist. Before signing an agency agreement, however, an artist must think strongly about three key areas: (1) What is the scope of representation that they desire, (2) How long do they want the representation to last, and (3) How much commission are they willing to pay.

An artist should first decide the scope of their agent’s representation. Does the artist want their agent to represent them in just one area, such as film or all areas including music, theater, or commercials? Some agents have a specialty and only operate in that medium, but some agents, if given the opportunity, would like to represent an artist across the board. The artist must decide if he/she wants to have different agents for each medium or one agent across the board.

The artist must also decide on the term of the agreement. Agents tend to ask for at least a three-year exclusive agreement, sometimes longer. An artist will want to consider for how long they want to grant exclusive representation rights. They will also want to consider demanding the inclusion of a termination provision, whereby if the agent is not finding sufficient work for the artist, the artist can terminate the agreement.

Finally, the artist must decide how much commission he/she feels comfortable with the agent taking. The agent receives compensation by taking a percentage of all employment deals he or she secures on behalf of the artist. The commission percentage is usually determined by industry standards, but is sometimes negotiable based upon the scope of the representation as well as the relative leverage of the two parties.

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