Avoiding conflicts, but how does, as you mentioned.
The question is, how does an athlete get around being put into a situation where
he or she may follow an agent's advise to his or her detriment.
I think the key is to ask as many questions as possible.
The agent never take a particular agents advice as the supreme words.
>> Generally, you're now primarily an attorney.
Is it fair to say, disclosure of any potential conflicts?
As an attorney, that's what you would advise every agent in drafting
a disclosure of any potential conflict of interest.
Is that what sets the agent free?
>> Well, nothing necessarily sets the agent free entirely, but
I think that's a very smart first step.
>> So, would you recommend,
even though it's maybe over-lawyering >> There are a cross indemnification
clause, if there's been a misrepresentation coming in,
a breach of a rep and a warranty coming in, either way, both the agency, and
the athlete should be able to seek recourse against the party who has
breached that material representation coming into the relationship.
Well, as a lawyer, it depends on who I'm representing.
>> [LAUGH] >> As to the warrantees are in there.
But certainly, as I mentioned, the contracts between the players and
the agents when we're talking about those for
team negotiations are very standardized.
But when we're talking about those off-field issues,
the marketing opportunities, etc., you always see at least
a paragraph that is designated for representations of warranties.
And oftentimes you will see something boilerplate that says both parties,
are free to enter into this type of agreement,
along with other representations of warranties that are mixed within.
>> I think it is very important to have that there, and
not necessarily an indemnification that is a part of that,
if in fact one of those representations of warranties are breached, but, certainly
that would be a material breach of the agreement that that would allow either
parties to get out of the agreement, even if it is exclusive in nature.
>> Tremendous answers, we really appreciate you're being with us today.
Is there anything you'd like to add, that any of the class should know about
presenting the pre-professional and the professional athlete?
>> Well, obviously, I have tremendously respect for you,
I think you do a great job with this class.
I hope a lot of people are able to gain a lot of insight from not only you but
your other very experienced guests.
I've used your book, representing a Professional Athlete in my class,
I didn't Indiana University for four years now.
I'm going to start using my own, as well.