Question 1

What is the optimal contract length?

JGLadmin · Accepted Answer

It depends upon whether there is an investment requirement, the start-up cost, and the volume of sales activity. A contract with no investment might be as short as 3 years. The average in our practice is 5-7 years. A contract with significant investment might be 10 years plus. Regardless of the length of the contract, it is critical the museum have the right to terminate without cause at any time.

Question 2

What is the optimal contract length?

JGLadmin · Accepted Answer

It depends upon whether there is an investment requirement, the start-up cost, and the volume of sales activity. A contract with no investment might be as short as 3 years. The average in our practice is 5-7 years. A contract with significant investment might be 10 years plus. Regardless of the length of the contract, it is critical the museum have the right to terminate without cause at any time.