Home Blog Management Agreement Review: Components, Risks, Lawyer Tips

Management Agreement Review: Components, Risks, Lawyer Tips

Jump to Section

What is a Management Agreement Review?

A management agreement is a document that’s signed between the owner of an asset, such as a company, and a manager who will take over its operations for a designated amount of time. It specifies terms, such as regarding services, compensation, and more.

There are various risks to be aware of with management agreements, such as conflict between parties and loss of authority or control, so it needs to be reviewed carefully to identify red flags.

Here’s what you should know about management agreements, such as what they contain, how to review them, and when to consult with a professional lawyer for a legal review.

What Does a Management Agreement Contain?

While there are various types of management agreements, such as property management agreements and contract management agreements, some terms you’ll typically find in a management agreement include the following:

  • Service scope. This specifies the daily operations and other tasks that will be performed by the managing party.
  • Compensation. This should include details about the payment structure, fees, and expense reimbursement.
  • Term and termination. The length of the agreement should be confirmed as well as how the agreement can be terminated, such as if written notice is required.
  • Reporting. Parties must agree to submit specific financial reports and approval processes for costs.
  • Performance standards. These are essential to outline so that the manager can provide quality tasks that meet expectations.
  • Dispute resolution. Your agreement should make provisions for future arguments or conflict. It should have a clear dispute-resolution clause that states how the disagreement can be settled, such as via mediation or arbitration.

How Can You Review a Management Agreement?

To ensure you have clarity about what the management agreement contains, you should review it in the following ways.

  • Check the services. You want complete details of what the manager will provide in terms of services and timelines. This will ensure that both parties’ expectations are aligned.
  • Verify payments. All payment structures, fees, and schedules must be clear and accurate to prevent disputes.
  • How can the agreement be terminated? For a smooth exit, the agreement should contain a termination clause that details how either party can leave it. It’s also important to have clarity about what can trigger contract termination.
  • Consider how much control you have. You want to be sure of when you’ll have authority and when the other party will have decision-making power, as this prevents role confusion.
  • Check responsibilities. Check who is responsible for losses, damages, or legal fees. These can serve to minimize risks.
  • Don’t ignore performance metrics. The agreement needs to outline clear and reasonable standards for performance, how these can be reported, and provide any remedies for failure.
  • Protect your interests. Search for clauses that protect your business and interests, such as data and intellectual property protection, and fair clauses that aren’t one-sided to favor the other party.
  • Note any vague language. If any wording in the contract is ambiguous or too general, it should be discussed with the other party to make it more specific. This will prevent misunderstandings.
  • Search beyond the price. While compensation is usually what many people focus on, you should also check the agreement for hidden fees, late penalties, and price escalation.
  • Ensure there are adequate reporting obligations. These will prevent the managed party from feeling like there’s not enough transparency about the manager’s duties.
  • Negotiate any unfair terms. If you’d like to change some terms in the agreement, you should negotiate them with the other party. This is also a good opportunity in which to clear up any confusing or vague terms.

Should You Contact a Lawyer for a Management Agreement Review?

You don’t always have to hire a lawyer to review your management agreement, especially if it’s simple and straightforward. However, if it’s complex or you’re concerned about some of its terms, it’s worth consulting with a professional lawyer.

When you work with a lawyer for a review of your management agreement, they’ll help you by:

  • Spotting unusual or unfair terms, while considering all industry norms and regulations.
  • Protecting your rights and lowering your risk of disputes, saving you time and money.
  • Clearing up any vague, general, or broad terms so that the contract is specific and legally solid.
  • Negotiating with the other party to ensure more favorable terms, whether that includes fair termination terms or lower fees.
  • Spotting any hidden risks, such as ownership red flags that remove your authority.
  • Giving you peace of mind that your contract is legal and fair before you sign it (when issues are easier to resolve).

How to Book a Management Agreement Review with a Lawyer

If you want to schedule a management agreement review with a reputable lawyer, finding a reputable lawyer doesn’t have to take a lot of time. Online legal platforms make it much easier.

An example of one is ContractsCounsel, one of the biggest online legal marketplaces that connect clients with vetted, experienced lawyers who draft and review contracts and provide legal guidance.

To get a management agreement review from a lawyer on ContractsCounsel, all you have to do is follow these easy steps.

1. Post your project for free on the ContractsCounsel marketplace.

2. Include some additional information about what you require so lawyers know how to help you quickly and efficiently.

3. Wait to receive lawyer bids. You’ll receive multiple bids from lawyers on the platform who want to assist you.

4. Review the lawyers' profiles based on various data that’s accessible on the platform, such as their location, years of experience, field of expertise, and client ratings for previous projects completed on the platform.

5. Choose the best lawyer for your purposes, and get peace of mind that your contract is professional, fair, and legal before you sign it.


ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


Meet some of our Lawyers

Alton H. on ContractsCounsel
View Alton
5.0 (53)
Member Since:
January 12, 2026

Alton H.

Attorney
Washington, DC
12 Yrs Experience
Licensed in DC, NJ, NY, VA
The George Washington University Law School

I am a U.S.-licensed attorney with more than a decade of experience in complex litigation and intellectual property matters. I have practiced at leading Am Law firms including Pillsbury Winthrop Shaw Pittman, Arent Fox, and Sughrue Mion, and I currently operate my own law practice. I have extensive experience handling high-stakes patent litigation, drafting pleadings and briefs, managing large-scale discovery, preparing and defending depositions, and appearing before federal courts and administrative bodies such as the PTAB and ITC. I hold a J.D., cum laude, from The George Washington University Law School and advanced technical degrees in chemistry and chemical engineering, which allow me to efficiently handle technically complex matters. I am admitted in multiple jurisdictions, including New York, Virginia, New Jersey, and the District of Columbia, and I regularly provide high-quality remote legal support to clients nationwide.

Recent  ContractsCounsel Client  Review:
5.0

"Alton was responsive, thorough, and clear. He reviewed a consulting agreement against my prior employer’s restrictive covenants under two states’ law, delivered a practical risk memo and a redline I could send as is, and caught an issue I hadn’t asked about. Flat fee, on time, no surprises."

Kevin F. on ContractsCounsel
View Kevin
Member Since:
December 9, 2025

Kevin F.

Business Attorney
Free Consultation
Chicago, IL
13 Yrs Experience
Licensed in IL
Northern Illinois University College of Law

Hi, I’m Kevin Flaherty, an Illinois-licensed attorney with extensive experience negotiating and drafting complex commercial agreements for engineering firms, technology companies, public agencies, and small-to-mid-sized businesses. Over the course of my career, I’ve: Led negotiations on domestic and international contracts, including engineering services agreements, EPC arrangements, SaaS licensing, MSAs, purchase/supply agreements, NDAs, and other mission-critical commercial documents. Developed risk-allocation strategies around indemnities, liability limits, flow-downs, multi-party contracting structures, and high-stakes project frameworks. Built contract playbooks, drafting standards, review matrices, and workflows designed to help clients understand their risks clearly and move deals forward with confidence. Provided training and guidance to internal teams and leadership on contract strategy, compliance considerations, and best practices. I bring not only legal expertise, but also a practical, problem-solving mindset—translating dense legal terms into actionable business decisions and helping clients protect their interests without losing momentum.

Robert F. on ContractsCounsel
View Robert
Member Since:
January 6, 2026

Robert F.

Business Lawyer
Free Consultation
Pennsylvania
7 Yrs Experience
Licensed in PA
University of Pittsburgh

I’m a commercial contracts attorney who helps growing companies get out of contract chaos and into something sustainable. I focus on the agreements that sit at the core of how companies operate—customer contracts, vendor deals, SaaS agreements, and supply and distribution relationships. Before going independent, I worked in private practice and embedded legal roles supporting technology, consumer goods, and manufacturing businesses. That experience shaped a practical, business-first approach to contracts: clear drafting, efficient negotiation, and advice grounded in how companies actually operate. I hold the CIPP/US credential and have completed AI governance training, which informs my work on data, privacy, and AI-adjacent risk terms commonly found in modern commercial agreements. If you want contracts that are clear, balanced, and usable by the people who sign and manage them, that’s where I’m most effective.

Aury L. on ContractsCounsel
View Aury
Member Since:
January 12, 2026

Aury L.

Business Lawyer
Free Consultation
New York, NY
13 Yrs Experience
Licensed in NY
University of Tulsa

I am an experienced U.S. attorney focused on contract drafting, review, and transactional legal support for businesses and individuals. My practice emphasizes clear, practical, and risk-focused legal guidance across commercial agreements, corporate matters, and regulatory compliance. I work efficiently in remote, document-based engagements and prioritize responsiveness, precision, and business-oriented solutions. Clients value my ability to translate complex legal issues into actionable advice and well-structured agreements that support their objectives while minimizing risk.

John P. on ContractsCounsel
View John
Member Since:
January 21, 2026

John P.

Managing and Operating Partner
Free Consultation
Waltham, Massachusetts
14 Yrs Experience
Licensed in MA, NH
New England School of Law

specializes in corporate governance, data privacy, intellectual property, and employment law. A former VP of Legal & Compliance and interim CFO, he has led legal operations across fundraising, acquisitions, and data privacy initiatives.

Kevin G. on ContractsCounsel
View Kevin
Member Since:
January 22, 2026

Kevin G.

Attorney
Free Consultation
San Francisco Bay Area
38 Yrs Experience
Licensed in CA
UCLA School of Law

For more than three decades, Kevin M. Gross has served as a trusted legal advisor to senior management and executive teams providing guidance on global compliance issues (anti-corruption, trade regulation, AML/KYC, privacy, and conflicts of interest), strategic concerns, due diligence, and risk mitigation strategies. In 2020, he founded C&R Consulting Group LLC to provide practical, cost-effective compliance and risk services to small and medium sized businesses. Prior to starting his own consulting firm, Kevin worked at Penumbra, Inc., a global healthcare company that manufactures and sells medical devices to healthcare providers, hospitals and clinics in more than 100 countries. At Penumbra, Kevin was the primary legal advisor to the company’s international sales and marketing executives. In addition, as Penumbra’s principal compliance lawyer, he conducted risk assessments and provided guidance and solutions to Penumbra’s internal compliance team. He oversaw due diligence on Penumbra’s international distributors, regulatory and sales agents, and other commercial partners. Prior to joining Penumbra, Kevin spent 15 years inside Chevron’s legal, compliance and upstream law departments, where he advised senior management on the company’s compliance and risk programs. Kevin overhauled Chevron’s hotline and investigations programs, strengthened internal controls and compliance procedures, and developed best practices and training for compliance personnel and investigators. Kevin also managed and conducted dozens of sensitive, high-profile investigations across six continents (internal and external), including FCPA, cybersecurity threats, and high-value theft and procurement frauds. Kevin directed outside counsel responses to SEC and DOJ inquiries, which were terminated without further action. He developed and conducted FCPA and compliance training for leadership teams and others across the enterprise. Prior to his tenure at Chevron, Kevin spent a decade as a senior enforcement attorney at the US Securities and Exchange Commission Division of Enforcement. At the SEC, he investigated and prosecuted cases involving securities fraud, insider trading, accounting fraud, options backdating, Ponzi schemes, and FCPA violations. Kevin filed and litigated SEC administrative and federal court actions against companies and individuals accused of violating federal securities laws. Early in his career, Kevin was a commercial litigator at Faegre Drinker LLP, an AmLaw 100 firm where he oversaw the investigation and resolution of insurance coverage disputes and other commercial litigation matters. In this role, Kevin took and defended hundreds of depositions, argued dozens of motions, and brought several cases to jury trials in US district courts. Kevin has received numerous accolades from clients and industry leaders, and is a frequent speaker at ACC, ACI, BECA, Consero and other conferences.

Neil R. on ContractsCounsel
View Neil
Member Since:
January 29, 2026

Neil R.

Partner/Shareholder
Free Consultation
Hood River, OR
39 Yrs Experience
Licensed in CA, OR, WA
University of Pennyslvania (JD)

Neil Rust is a transactional attorney with almost four decades of experience ranging across a broad range of fields, including M&A, finance, structured finance, VC and general corporate. Before moving to Oregon, Mr. Rust was a partner at the Los Angeles office of an international law for 26 years and the Century City office of a national law firm for 5 years. During his big firm tenure, Neil Rust gathered experience across multiple industries and enjoys counselling clients as much as drafting and negotiating.

Find the best lawyer for your project

Browse Lawyers Now

Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.

View Trustpilot Review

Need help with a Management Agreement?

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

CONTRACT LAWYERS BY TOP CITIES
See All Business Lawyers
MANAGEMENT AGREEMENT REVIEW LAWYERS BY CITY
See All Management Agreement Review Lawyers

Contracts Counsel was incredibly helpful and easy to use. I submitted a project for a lawyer's help within a day I had received over 6 proposals from qualified lawyers. I submitted a bid that works best for my business and we went forward with the project.

View Trustpilot Review

I never knew how difficult it was to obtain representation or a lawyer, and ContractsCounsel was EXACTLY the type of service I was hoping for when I was in a pinch. Working with their service was efficient, effective and made me feel in control. Thank you so much and should I ever need attorney services down the road, I'll certainly be a repeat customer.

View Trustpilot Review

I got 5 bids within 24h of posting my project. I choose the person who provided the most detailed and relevant intro letter, highlighting their experience relevant to my project. I am very satisfied with the outcome and quality of the two agreements that were produced, they actually far exceed my expectations.

View Trustpilot Review

How It Works

Post Your Project

Get Free Bids to Compare

Hire Your Lawyer

Want to speak to someone?

Get in touch below and we will schedule a time to connect!

Request a call

Find lawyers and attorneys by city