There is no gain stressing
the significant role Talent Managers, Agencies, and Management Companies, play
in the careers of talented individuals in the entertainment industry.

Every Michael Jackson,
Lionel Messi, Denzel Washington, Kenny Blaq, and other known successful
cultural icons need equally excellent supporting casts that can help chart a
progressive route to growth, profitability, and longevity. At the core of this
supporting cast is a Talent Manager.

In simple terms, Talent
Managers organize and advance the careers of talented individuals. They are
important in the scheme of things, as they are known to possess an eye for
talent and an ability to create bankable stars, which may include actors,
artists, musicians, or athletes. They are responsible for seeking job
opportunities for clients and representing your clients’ interests during the
negotiation of contracts.

In view of the above,
talents in the creative industry, entertainers, filmmakers, record producers,
and others, must seek answers to certain pertinent questions before
surrendering their careers to a talent manager.

Here are 10 questions
entertainers should ask before signing a Talent Management Contract.

1.    
HOW LONG WILL THIS RELATIONSHIP LAST?

For a new relationship, the
shorter the term, the better. Most Management Agreements come with an initial
term (one year), with an option to extend duration if both parties find the
relationship mutually beneficial. If during the initial term, all or most
expectations were met, parties can negotiate for extension. Talents must ensure
that there is clarity on the duration of a management relationship. This will
help them avoid being stuck in a lengthy unfavorable contract.

2.    
IS THERE A PROBATIONARY PERIOD?

The Talent/Manager
relationship is an intimate one. As such, parties must maintain the enthusiasm
and passion needed to make the relationship profitable. It is advisable to
agree to a trial period during which time the parties will commit to exploring
the depth of the newly established relation on a personal note, creative-wise
or with respect to business.

If at the end of the trial
period the enthusiasm has been deflated, or the expectations crushed, parties
may decide to terminate the relationship. It is advisable Talents insist on a
probationary period in their talent management contracts.

3.    
WHAT IS THE EXPERTISE OF THE MANAGER?

What a Talent expects from
his manager is largely dependent on where he is positioned as Talent in his
industry and his level of relevance and notoriety.

As there are different types
of talents with diverse areas of strength and weaknesses, same applies to
Managers. The expertise a Manager possesses is central to achieving set
objectives for the benefit of the Talent.

4.    
WILL THE MANAGER DOUBLE AS PUBLICIST?

The management contract
should give clarity as to whether the manager would go beyond the call of duty
to double as a publicist. By virtue of experience, some talent managers can
help manage relationships with the media, arranging interviews, charity events,
media parleys and public appearances. For a new talent with limited budget, it
is advisable to agree on whether the manager would serve in both capacities or
if it is clear cut that a publicist should be hired.

5.    
WHAT PERCENTAGE OF MY EARNINGS GO TO THE
MANAGER?

A standard management fee
ranges from 10% – 20%. However, the rate is open to negotiation and will depend
on the stature of the parties, and other variables. There are many channels of
revenue (tours, album sales, label advances, licensing and merchandising) from
which a manger may earn. Therefore, there must be clarity on the remuneration
of the Manager.

6.    
GEOGRAPHICAL REPRESENTATION.

Every Talent wants globally
dominance. This could cause strategic building of relationships that could help
actualize this. If Talents want representation covered in different interested
markets, it is advisable to negotiate contracts specific to such territories.
This means Talents must find managers who have knowledge and mastery of the
preferred markets, and can properly represent their interests.

This point should be given
utmost consideration when negotiating and executing a management agreement.

7.    
WHO RECEIVES PAYMENT FROM BUYERS OF
SERVICES?

Many managers do not want to
collect the money and be required to prepare and tender accounting statements
to an artiste. The artiste in turn may feel completely comfortable relying on
the manager to collect such monies. This should be agreed upon by both parties.

8.    
HOW LONG SHOULD THE MANAGER CONTINUE TO
RECEIVE COMMISSION?

It is important to agree on
when a manager stops receiving commissions after the expiration of the
management. While some may stop receiving commissions after the expiration of
contract, others might intend to continue to receive commissions on
transactions brokered during the duration of a work relationship. Parties
should make sure there is mutual understanding on this point.

9.    
IS THERE ANY PROVISION FOR A POWER OF
ATTORNEY?

An artist management
contract will often contain a provision which seeks to grant the artist manager
a power of attorney. The purpose of this is to allow the manager to sign
documents and contract on behalf of the artist, as if he or she were personally
signing the document. It is advisable for an artiste to grant only a Limited
Power of Attorney; while talents don’t want to hinder their manager’s job, they
can control how this power of attorney is wielded by adding a clause to the
contract that stipulates that for certain types of transactions, the manager
must obtain written consent before any such transactions or decisions are made.

10. HOW
WILL THE MANAGER’S EXPENSES BE COVERED?

An agreement should be
reached on how expenses will work. Talents don’t have to pay for manager’s
phone costs or office costs or business trips, or they might have to.

What are your
thoughts on the points highlighted? We want to hear your thoughts.

If you have any
questions, use the comment section, or get in touch via +2347014979879 or
hightowerlawyers@gmail.com. You will be glad you did.

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