|Definition||A person who acts on behalf of another in a transaction.|
|Value||Specialized skills such as sales and negotiation may add value to a transaction.|
|Related Concepts||Added Value|
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What is an Agent?
John Spacey, updated on November 01, 2015
An agent is a professional or organization who is authorized to act on behalf of someone, known as the principle, in a transaction. In many cases, an agent is a negotiation specialist who manages asset sales or purchases for the principle. However, other types of agents represent principles in a variety of situations that require specialized skills. For example, a press agent manages publicity and relationships with the media.
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