Sponsorship AgreementThis Sponsorship Agreement can be used to establish a sponsorship relationship between a company and an individual or team.
This Sponsorship Agreement is a binding agreement between the Sponsor and the Sponsee, outlining the terms and conditions under which the Sponsor will provide sponsorship and promotion for a specific event or activity.
Note: this Sponsorship Agreement should be tailored to the needs of each Sponsor and Sponsee, and their commercial relationship. To complete this document, the parties must draft sections regarding scope of activities, payment structure and sponsorship deliverables, and so those matters should be agreed on first.
Why should I use a Sponsorship Agreement?
- Clarity of terms: A sponsorship agreement clearly outlines the rights, responsibilities, and obligations of both parties, ensuring that there is a mutual understanding of what is expected from each party.
- Protection of intellectual property: The agreement contains provisions regarding the use of intellectual property, ensuring that both parties are aware of their rights and limitations when using each other's logos, trademarks, and other intellectual property.
- Financial arrangements: The sponsorship agreement sets out the payment structure for the sponsorship fee, ensuring that both parties are clear on the financial obligations involved.
- Exclusivity: The agreement may grant the Sponsor exclusive rights within a specified category of products or services, providing the Sponsor with a competitive advantage in the market.
- Deliverables: The agreement outlines the specific deliverables that the Sponsee is required to provide to the Sponsor, ensuring that both parties are clear on what is expected in return for the sponsorship.
- Dispute resolution: The agreement includes a dispute resolution clause that sets out a process for resolving any disputes that may arise between the parties, potentially saving time and money by avoiding litigation.
- Legal protection: A well-drafted sponsorship agreement provides legal protection for both parties, ensuring that their respective rights and obligations are enforceable under the law.
What does this Sponsorship Agreement cover?
- Intellectual property rights;
- Sponsorship rights and fee;
- Duration and termination of the Agreement;
- Warranties, indemnities and representations; and
- General terms and conditions.