As the World Cup highlights the immense potential value of sponsorship, Nick Johnson gives a legal overview of the issues to be considered when considering a sponsorship agreement. In the case of a team, ensure that a certain standard of players participates in the event (i.e., installing a team of relatively unknown people will reduce the value of the sponsorship); If you`ve ever been to a baseball game, you`ve definitely seen many company logos throughout the ball park, both throughout the arena and as the name of the stadium itself. These logos are just one example of corporate sponsorship, which is also known as event marketing or cause marketing, especially when a charitable or non-profit organization is involved. However, the definition of sponsorship presented does not explicitly require that the sponsor presenting offer the greatest financial support. Sometimes the present sponsor has simply opted for a specific sponsorship package that implies the right to be designated as the presentation sponsor. In some cases, a company can improve its return on investment by providing several types of sponsorship. In other cases, a better strategy for the company is to focus on one type of sponsorship. And in some situations, it is in the company`s interest to pass on a sponsorship opportunity. If the goals or values of an event do not match the goals and values of a brand, continuing to sponsor the event can actually harm the brand. A property sponsorship is an agreement by which the sponsorship company provides goods or services instead of direct financial support. For example, a restaurant may decide to provide food for a fundraising event. While it may be tempting to have a boiler platform agreement, it is always best to tailor the details for each participating sponsor to include the peculiarities.
There is therefore no room for misunderstandings. The first thing you should do when you create a sponsorship contract is to consult a lawyer. This contribution is designed only as information and should not replace the advice of a lawyer. However, the basis of a sponsorship contract often includes: ensuring that key players/participants in the event or sponsorship theme have committed to participate; Place at the embassy of a sponsor in the program.