Management Agreement
/ˈmænɪdʒmənt əˈɡriːmənt/
Definitions
- (n.) A contract whereby one party (manager) agrees to operate, manage, or oversee a business or property on behalf of another (owner) under specified terms.
The owner signed a management agreement granting the firm control over daily operations of the hotel.
- (n.) An agreement defining responsibilities and compensation related to managing assets, projects, or services, often including reporting and performance standards.
The management agreement outlined the manager's duties and payment based on performance targets.
Forms
- management agreement
- management agreements
Related terms
See also
Commentary
Management agreements require clear allocation of duties and authority to avoid disputes; they often include termination clauses and confidentiality provisions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.