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Safeguard yourself from the many liabilities associated with event sponsorship.
Discover what terms and conditions should be included to protect the parties during the length of the contract.
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The success of an event can often be tied directly to the financial support the event's organizers receive. That's why organizers of concerts, sporting events, fundraisers, and festivals will ask companies and individuals to sponsor their event. In the ideal arrangement, both the event organizer and the event sponsor reap the benefits of the event itself. In exchange for receiving funds or prize giveaways, the organizer will provide the sponsor with certain benefits. This typically involves affording the sponsor signs and advertising opportunities at the event, use of the event's logo to promote products and services, and name mentions in press releases and media coverage. Complimentary tickets, access to hospitality areas, and the chance to meet attending performers or celebrities are among other sponsor benefits, depending on the event. A well-drafted sponsorship agreement will address these details and many more. Sponsors may insist that none of their competitors will be permitted to sponsor the event and that the terms of their sponsorship remain confidential. For their part, organizers could seek assurances that their sponsors won't sponsor or host a competing event. Other concerns that should be addressed in the agreement include cancellations and responsibility for accidents and injuries. LegalZoom's Sponsorship Agreement provides you with the foundation to craft a contract that spells out each party's duties and service expectations. Download this agreement today to protect your interests tomorrow.
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