Arkansas Management Agreement
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Description
A management contract is an arrangement under which operational control of an enterprise is vested by contract in an independent contractor that performs the necessary managerial functions in return for a fee. Management contracts involve not just selling a method of doing things (as with franchising or licensing) but involve actually doing them. A management contract can involve a wide range of functions, such as technical operation and of a production facility, management of personnel, accounting, marketing services and training.
