agency relationship

English - English

Definition of agency relationship in English English dictionary

A relation between two parties in which one party (the agent) is authorized by the other party (the principal) to make decisions or take actions for the benefit of the authorizing party

In law, the relationship between two parties by which one party, the agent, is authorized to perform certain acts on behalf of the other party, the principal

This type of relationship arises when a donor and an organization or two organizations consent that one shall act for the benefit, and under the direction, of the other (See agent and principal)

The relationship between a firm and its owners, managers, and workers and between a firm and other firms

A relationship in which an agent is authorized to perform certain acts on behalf of a principal

Hyphenation

a·gen·cy re·la·tion·ship

Turkish pronunciation

eycınsi rileyşınşîp

Pronunciation

/ˈāʤənsē rēˈlāsʜənˌsʜəp/ /ˈeɪʤənsiː riːˈleɪʃənˌʃɪp/