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In response to "What’s that? -- nm" by Will Hunting

Equity is the labor union for professional actors and stage managers. Tours can be organized under either equity or non-equity contracts.

Generally if you’re a member, you cannot perform in non-equity shows. It’s an arguable point whether there’s actually a difference, other than in how much the actors are getting paid, as until recently membership was more a function of opportunity rather than talent.

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