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LSDefine
Simple English definitions for legal terms
business agent
Read a random definition: corporate trustee
A quick definition of business agent:
A business agent is someone who represents either a company or a group of workers. They can be hired by a company to manage their affairs or by a labor union to negotiate with employers on behalf of workers.
A more thorough explanation:
A business agent is a representative who acts on behalf of a company or organization. This can refer to two different types of agents:
- Managing Agent: A managing agent is a person or company hired to manage the day-to-day operations of a business or property. They are responsible for making decisions, handling finances, and overseeing employees.
- Labor-Union Representative: A labor-union representative, also known as a union agent, is a person elected by a labor union to represent its members in negotiations with employers. They work to protect the rights and interests of workers, and negotiate for better wages, benefits, and working conditions.
For example, a property management company may hire a managing agent to oversee the maintenance and leasing of a building. On the other hand, a union may elect a business agent to negotiate with an employer for better pay and benefits for its members.
Both types of business agents play important roles in ensuring the success and well-being of their respective organizations.