Agencies in RPM house your agent users (reps/sales partners) in RPM. In most cases, the agency would be the company name of your partner and the agent users are your partners’ first and last names.
It is also possible that an agent user that you pay commissions to each month does not have a company name or isn't part of a company that you know of. In cases like this, the agency and rep can share a name.
One agency to many reps
Rutabaga Communications has reps Steve and Kristy. Steve and Kristy can both be assigned commissions independently but both their totals count towards the total for Rutabaga Communications. You can also add multiple reps to an agency to keep track of contacts in RPM.
One agency to one rep or in-house sales person
If you have an agent that is on their own, you still need to create an agency for them. Whether the agency is a company name or just their first and last name doesn't matter as long as there's an agency-to-rep relationship.