Show Me the Money! The hottest catch-phrase of the year derives from one of the most popular, most misunderstood areas of modern practice: sports and entertainment law. Jerry Maguire may have enticed more than a few young lawyers to the big businesses of sports and entertainment.One of your first tasks as an attorney/ agent may be to educate a potential client on the benefits of having an agent who is also an attorney. Professional leagues do not require that an agent be an attorney in order to become certified to negotiate with teams. So, you may find yourself highlighting why attorney-as-agent is the preferred combination.
An attorney, through education and experience, has the requisite skills to get the most out of contract negotiations. The intense research necessary to discern competitive salaries and
bonuses mirrors the research and preparation needed for a big trial. Add in tax and probate issues, and that's just the beginning of the value an attorney/agent offers.
Negotiating the contract is only part of the equation for success. Understanding and involving your client in the processes and requirements of collective bargaining agreements (or union rules in the arts) are vital to a client's protection. The attorney is equipped to recognize and deal with worker's compensation issues, grievance procedures, possible adjudication of fines, and conflicts of interest with team, product, and management.
A good marketing tool for the attorney/agent is the ability to assist your client off the field or screen. Modern-day agents must stay familiar with domestic law (paternity, divorce, ante-nuptial agreements), intellectual property, criminal law, probate law, real estate and business law, among others, or be able to direct clients to the best available resource. Diversity in disciplines is key to an attorney/agent effectively and efficiently servicing a client.
One other major benefit to the client who has an attorney/agent stems from the legal profession's ethical guidelines. A client gains confidence from knowing that the attorney/agent is bound by the ethical precepts of state and ABA rules. Any violation of those canons may jeopardize an attorney's lifetime of achievement.
The attorney/agent must realize that sports and entertainment law is not as glamorous as portrayed in television and movies. A small percentage of agents control the majority of the market. A young lawyer can create a niche, however, by exploring the smaller market sports, such as soccer, women's basketball, skiing, golf, tennis, coaches, and entertainers, including actors, screenwriters, and local bands. Consider that many record companies will only accept submissions from unsigned bands if an entertainment attorney submits them. If there's a bit of Jerry Maguire stirring in you, find a reputable mentor that thrives in this practice area. Read and understand the business of sports and/or entertainment. And, remember to place the client's best interests and successes ahead of your own.
, get involved with the YLD Arts, Entertainment and Sports Law Committee; send a fax to (312) 988-6231 for information on the committee and how to join. Or, visit [http://www.abanet.org/yld/home.html]. Also check out the ABA Forum on the Entertainment and Sports Industries at [http://www.abanet.org/forums/entsports/].
