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This Agreement is entered by and between Jonas Adam, individually or collectively as the "Signee" and Jane Smith, as the "Signer", together referred to as the "Parties".
The Contract is dated [the date both parties sign].
The Parties agree that the following agreement is dependent on the terms presented as follow:
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Sponsorship is most often associated with corporate sponsorship of an event or athletic activity, such as companies advertising at a football game. Sometimes they place their logos on the stadium itself, sometimes on the jerseys. Sponsorship is only limited by the creativity of the parties involved.
Sponsorship has also expanded into a really wide range of industries recently. For example, many companies are sponsoring Instagram users to promote their health and wellness, cosmetic, or outdoor products. This type of sponsorship is similar to when brands like Nike sponsor individual athletes to market their athletic apparel.
At the simplest level, sponsorship is a type of advertising. Companies use sponsorship deals to promote their products, services, or (in the case of non-profits) causes. It is the foundation of the marketing plan for many businesses. It can serve to increase their revenue or perhaps improve or alter the public perception of an organization.
A sponsor is defined as “a person or an organization that pays for or plans and carries out a project or activity.”
The goal of sponsorship is to create an association between a particular person, place, or thing with a product or company. For example, if you hear the same product advertised during your favorite radio program for many months in a row, you may come to associate the two in your mind. To the sponsor, this is good news as it may give you a positive perception of the product even if you have not used it.
Sponsorship is a useful tool because it can be mutually beneficial for both parties. The sponsor achieves their goal of increased advertising or publicity, and the entity being sponsored is given the funds or benefits they need in turn.
Association with beloved figures or teams can also create emotional connections to the sponsored product as well, which is tremendously beneficial to the sponsor. This is what sets sponsorship apart from other forms of advertising. It is grounded in a relationship with the other entity, and that relationship can have a huge impact on the success of the deal.
As with any business arrangement, it is imperative that sponsorship be conducted through a comprehensive legal agreement.
Sponsorship deals can be very tricky, and having the details outlined and documented will be incredibly helpful in the event of a dispute or misunderstanding. Anyone thinking of entering into such a relationship should be sure that both parties agree to a formal document. It is advisable to consult with a qualified and experienced lawyer, but you can also find sponsorship agreement templates online and modify them to suit your needs.
Sponsorship agreements are designed to protect both the sponsor and the sponsee. If one party is coming in at a distinct disadvantage, the standard agreement may be modified to provide them with more favorable terms. But usually, the agreement is in place to ensure that all interests are properly balanced.
Sponsorship agreements are legally binding documents and should be undertaken with serious thought and consideration of the potential ramifications.
Every individual sponsorship arrangement will be different. Is the sponsee an individual? A company? An event? Is the sponsor providing goods? Services? Funding? Is the sponsee expected to promote a product a certain number of times? For how long? Will there be a non-disclosure or non-disparagement clause included?
Because sponsorship is centered around the relationship between two parties, all potentialities cannot be predicted. It is therefore critical to be as thorough as possible in your agreement so that both parties know how to proceed in the event of a problem or dilemma.
While every agreement will vary significantly, there are a few elements that are absolutely necessary to complete a sponsorship agreement:
Those are some of the most important and standard terms to include in a sponsorship agreement. However, there may be many other provisions important to a particular arrangement. Some of those include:
There should be a warranty section of the sponsorship agreement that is granted by the sponsee, indicating that she will not behave in any way during the term of the agreement that causes harm to the sponsor. There should be a similar provision from the sponsor as well, protecting the sponsee from any acts undertaken by the sponsor.
As discussed, sponsorship agreements can take on many different forms due to the nature of the industry. The clauses and provisions described above do not constitute a complete list but should rather serve as a guide to help you get started. If you are comfortable outlining the content of these clauses, you may be ready to enter into an official sponsorship agreement. If you are able to form a sponsorship relationship that benefits you and your company or your clients, it can be incredibly lucrative.