The sponsor`s primary obligation is to pay the agreed amount of sponsorship and/or to provide the goods or services indicated to the sponsored party. This alone raises a number of questions and reflections. A detailed and well-developed sponsorship agreement can help parties avoid future disputes and help both parties derive maximum benefits from the relationship. At LegalVision, we have experienced business lawyers with extensive experience in developing and verifying sponsorship agreements. If you would like to conclude a business agreement, contact us today on 1300 544 755! The sponsorship agreement must clearly know who is entitled to the different intellectual property rights and where everything has been prepared together, for example. B a combined logo to which it belongs. The sponsored party should keep in mind that if the sponsor obtains property rights, it could, for example, continue to use the logo even after the sponsorship contract has ended. If the sponsorship agreement exists for a relatively long period of time, it may be appropriate to include a break clause allowing both parties to legally terminate the contract. In addition, the sponsored party is responsible for complying with all laws and regulations, continuing the event or program as agreed, and properly promoting and marketing the event or program. The sponsor will ensure that the sponsored party does not enter into agreements that would or could have a negative effect on the sponsor`s advertising and that it will not be able to act in such a way that the sponsor is held responsible for anything.
Do your best to get sponsorship from companies, organizations or brands that match your event or organization. It`s exhausting to have to constantly try to push a square stake into a round hole. The calculation of sponsorship fees is another important point on which the parties should agree before entering into a written agreement. The list of commitments on the sponsored part can be long depending on what is sponsored, and it should be noted that a substantial violation of one of these commitments may allow the sponsor to terminate the sponsorship contract and move away from the agreement. Although the duration of the sponsorship is primarily a decision for the sponsor, if an association is not satisfied with the proposed duration, it should then try to negotiate it to determine if a compromise can be found.