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In response to
"Don't you need to an attorney to be an agent? Or is that just preferred since they understand contracts and contract law. -- nm"
by
Krusty
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Being an attorney is not necessary, though a lot of attorneys end up being agents for athletes, musicians, and other entertainers.
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An "agency relationship" can be created in just about any context. It is simple a business relationship, usually defined by a comprehensive contractual agreement, that spells out how the agent is empowered and authorized to act on behalf of someone else (called the "principal").
In sports, agents are commonly empowered to act as negotiators on behalf of athletes -- for team contracts, endorsement deals, and sometimes even purchasing assets (e.g., homes, cars, clothing, etc.). Having knowledge of contract law is a plus, but not necessary. And most of the time, an athlete will have a separate person acting as a manager who will review those contracts anyway. The key skills are knowledge of what other athletes are getting paid, analytic skills, and negotiation skills.
Source: I took a couple sports & entertainment law classes, and a good friend of mine is an agent at Creative Artist Agency.
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