Managing Expectations

I have been thinking about something that one of the agents said during the symposium I recently attended.  He spoke about the importance of managing expectations for athletes and their families.  This was in the context of college NIL clients; however, the same is important in the representation of any athletes.  Certainly, managing expectations is crucial for agents representing assets in an Intellectual Licensing context. When agents are tasked with advocating for and negotiating on behalf of assets such as intellectual property, they play a critical role in setting realistic goals and ensuring that the parties involved have a clear understanding of what can be achieved.

By proactively managing expectations, agents can help prevent misunderstandings, conflicts, and disappointments throughout the process. This involves effectively communicating the possibilities and limitations of the deal, outlining the potential outcomes realistically, and guiding both parties through the negotiation with transparency and honesty.  Websites such as On3 have set high expectations for many college athletes as they analyze and publish estimations of athlete values.

Moreover, agents need to be adept at assessing the market, understanding industry trends, and gauging the value of the assets they represent. This knowledge empowers them to set appropriate expectations, offer informed advice, and secure favorable terms for their clients.

In essence, agents who excel at managing expectations in the realm of intellectual licensing not only contribute to successful deals but also build trust, credibility, and long-term relationships with all parties involved. It is a delicate balance of advocacy, transparency, and negotiation skills that ensures a positive outcome for the assets they represent.