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Thinking of taking up a career as a liaison to the stars? Well, it usually starts with a Talent Management Agreement.
If you’re acting as an agent or manager for talent such as models, actors and musicians, a Talent Management Agreement will set out the relationship between you and your clients, as well as outlining the duties and responsibilities that you each owe to each other.
Why Do I Need A Talent Management Agreement?
If you’re looking to engage talent for the purposes of management, it’s a good idea to have a formal, written agreement with your client in order to ensure that both of your obligations are fair and transparent.
If you are working on a commission basis (which is commonly the case), it’s important to outline what share you’re entitled to, and when you’re entitled to take it.
What’s In A Talent Management Agreement?
A Talent Management Agreement will usually include conditions surrounding:
- The term of the contract: how long will the agreement be in effect for?
- The manager’s duties: an outline of the manager’s responsibilities and obligations they owe to their clients. This may include things such as acting as a consultant and providing advice on how to develop the talent’s career, and working with booking agents or casting agents in order to secure work opportunities for the talent.
- The Talent’s duties: the responsibilities and obligations of the Talent. While these clauses usually vary depending on the kind of talent that you are engaging, (Models, Actors or Musicians) they often concern themselves with the Talent’s obligation to carry out their skill to the best of their abilities.
- The amount of commission that the manager is entitled to.
- The ways in which the agreement can be terminated before the contract’s expiry date.
Example Of A Talent Management Agreement
Steve is a Talent Manager. After seeing John play a song at his local pub’s open-mic night, Steve approaches John and offers to be his manager.
Since John has heard many horror stories regarding musicians and their managers, he asks for an agreement in writing which outlines what Steve is expected to do as the manager, and how much money he is owed for his services.
Steve and John agree that a commission rate of 20%, for a 2 year agreement is suitable. Both parties happily sign the contract and begin their professional relationship.
Get In Touch
If you need an agreement drafted, or other legals for your talent agency or management arrangement, get in touch at team@sprintlaw.com.au or 1800 730 617 for a free chat.
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