Legally Binding Sponsorship Agreement
It is likely that both parties will use each other`s intellectual property and branding to promote sponsorship, and both parties will want to ensure that they are each able to retain ownership of their intellectual property. In order to avoid litigation, the agreement should include detailed intellectual property clauses concerning the owner of the intellectual property and the rights of one party to exploit the other party`s intellectual property. Ensure that key participants in the event or sponsorship have committed to participate; Offer room for a sponsor`s message in the program. It is important to indicate precisely for which event or venue the sponsorship will be. Sponsorship could be for example for one or more music concerts at Wembley Arena or for a concert tour of a band. That has to be clear in the treaty. Another example is that Juventus has a kit sponsor for Serie A matches and a Kit sponsor for Champions League matches. Because you could make significant sponsorship payments to a particular organization, you want to know what benefits you are receiving or, at the very least, what is being done with your money. If you will receive tangible benefits such as copies of a book or printing your logo on the promotional material of it, all of this must be clearly explained in the sponsorship contract.
It is important for both parties to know what they will receive under the sponsorship agreement. A sponsorship application that does not contain a signed agreement is not complete. A sponsor may be entitled to a refund of a portion of the sponsorship fee if the sponsor`s requirements are not met. Exclusiveness and “clean places” – The success of a sponsorship depends in large part on the exclusivity granted and whether the places in question are “clean”. Sponsorship rights may be granted to a number of parties, but these rights are generally limited to one per type of product or service. The sponsor is not obligated to insure existing agreements that are in conflict with the sponsor (for example.B. when Carling began sponsoring the F.A. Premiership, FC Liverpool was subject to an existing sponsorship with Carlsberg, which limited Carling`s ability to advertise at Anfield). In the event of a disagreement, the parties refer the matter to an independent arbitrator appointed by mutual agreement. Comply with all relevant rules and regulations of an association in organizing, organizing and promoting an event; ensure that nothing is done that could affect the image or reputation of the sponsor (the sponsor may, for example, include a “moral clause” that, in the case of a sponsorship of a sports team, gives the sponsor the opportunity to take action or terminate sponsorship when a team member or club member violates club or sponsor standards. PandaTip: The text blocks in the template below allow you to insert details about your sponsorship, including the benefits you offer to the sponsor and all the items they need to provide to your team as part of the sponsorship agreement.