Agency Agreements

Agency agreements are contracts that establish a relationship between two parties, where one party (the principal) hires the other party (the agent) to act on their behalf. In the field of legal services, agency agreements are commonly used in situations where a company hires an agent to represent them in business transactions with third parties. These agreements typically outline the scope of the agent's authority, the terms of their compensation, and any other relevant terms and conditions of the relationship.

1. Clearly define the scope of the agency relationship, including the limits of the agent's authority.
2. Specify the terms and conditions of the agent's compensation, including any commission or fees.
3. Clarify any exclusivity or non-compete clauses in the agreement.
4. Include provisions for termination of the agreement and the return of any property or confidential information.
5. Identify the governing law and jurisdiction for any disputes that may arise.

Common mistakes that people make when entering into agency agreements include failing to properly define the scope of the relationship, not adequately addressing the issue of compensation, and failing to include termination clauses or dispute resolution provisions. Additionally, some parties may fail to ensure that the agreement complies with applicable legal and regulatory requirements, which can lead to significant legal and financial consequences. It is important to work with an experienced legal professional when drafting and negotiating agency agreements to ensure that the agreement accurately reflects the parties' intentions and protects their interests.

Our experienced solicitors are here to help you at all stages of your business. Contact us to learn more.

About Helium Law

The modern law firm that's fast, low-cost and transparent.

‍

Helium Law is a new kind of law firm that uses AI technology to save time, reduce admin and give everyone a better experience and service. The more effectively our lawyers and clients work together in the Helium app, the more they earn or save. We ensure transparency on pricing by estimating case costs up front and tracking every minute real time in our platform so you stay in control.

‍

Get in touch and join the revolution.