Not so long ago, the migration to Hollywood of Spanish-speaking performers was governed by a ludicrous business conceit. Here’s how Sofia Vergara’s now very rich business partner describes it in a Forbes sidebar to the magazine’s announcement that the Modern Family star is 2012′s highest earning TV actress:

“Most talent at that time was represented by their boyfriend, or their mom or dad,” says Luis Balaguer, 44, a veteran talent manager who hails from Madrid. “They would sign deals with networks, and the contracts would be in English; nobody bothered to read, let alone understand, the fine print.”

No longer, thanks in large part to Balaguer and Vergara’s company LatinWE. As ForbesWoman writer Meghan Casserly concisely details, the firm is growing by leaps and bounds as a talent representation firm, Internet portal developer, clothing line purveyor and more.

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