When creating a sponsorship contract, it is imperative to consult a lawyer. This contribution is designed only as information and is not designed as legal advice or substitute to advise a lawyer. However, some obligations appear in most sponsorship agreements. These include commitment: do your best to get sponsorship from companies, organizations or brands that of course correspond to your event or organization. It`s exhausting to have to constantly try to push a square stake into a round hole. When you start being an artist, a sponsorship contract sounds like a wonderful opportunity. It can be a great source of money to support your business while promoting another company`s brand in return. However, not all sponsorship agreements are equal. Whether you`re an emerging artist, a concert organizer or an experienced artist with a strong fan episode, ask yourself the following questions before signing legally binding documents. Despite some initial adverse reactions, the public will have to get used to a new name for the «world`s oldest knockout competition.» The football federation has opted for a new revenue product which, thanks to this possibility of co-branding, should amount to 30 million dollars. You are not alone. There are as many types of sponsorship agreements as trademarks exist, including sponsorship of television programs and sports competitions; The designation of sports and entertainment venues; Product recommendations and celebrity recommendations. Parties should want to somehow limit their liability under the sponsorship agreement.
This can be done by including a maximum amount of liability or without liability for certain claims. Detailed tax considerations go beyond the scope of this memo, but taxation can be problematic depending on the type of sponsorship and the legal systems it covers. For example, care should be taken to minimize the risk of double taxation in two or more countries. Tax advice should be sought. A sponsorship agreement is the written document between a sponsor and a sponsored party, which defines the terms of sponsorship, the obligations of both parties and other important aspects of the deal. They can be extremely detailed and complex and require careful preparation and negotiation to ensure that the parties have a clear say in the terms of their relationship, both during and after the sponsorship. The sponsorship agreement must be clear to the parties.