Agreements between an agency and a prospective client are often chock full of terms that require the insight of subject matter experts (SMEs).
For example, there may be insurance terms that require the perspective of your insurance broker; tax provisions that require the expertise of an accountant; data security requirements that need the POV of your technology folks; background screening or other personnel requirements that should be reviewed by HR; and/or intellectual property provisions that should be reviewed by IP counsel.
Not only is it important to identify those provisions during a negotiation, you need to identify them early enough that you allow your experts time to review and give thoughtful guidance on how best to proceed.
There is a big difference between sending an agreement to an SME as a "check the box" exercise and truly asking the SME to lend their expertise to a negotiation. And, trust me, the SME will know when their expertise is being sought and is valued. And, trust me again, SMEs tend to do their best work for folks that respect their expertise enough to give them adequate time to work.
Broad Cove recommends that the person leading the negotiation for the agency:
As soon as possible after getting the agreement, take an initial pass to identify where SME input is needed;
Send all relevant material and information to the SME(s) as soon as you can;
Clearly establish your timeline for receiving their feedback and for when the document needs to be returned to your client; and
Make yourself available to answer any questions that the SME has and to meet with the SME to review their feedback if that is needed.
Comments