A commission that two or more people share. For example, a broker may split a commission with a friend who introduced a client to the broker as a finder's fee. Alternatively, real estate agents may split the commission on a house if one represents the buyer and the other represents the seller.
Facts: Bernard Turnoy was an insurance broker who entered into an agreement with lawyer and fellow insurance salesman David Shiner to equally split commissions on insurance policies covering Shiner's mother-in-law.
The proliferation of insurance-selling professionals poses other challenges to team-building: knowing how and when to split commissions and, where necessary, encouraging colleagues to commit to full disclosure.