Sponsorship

Solicitors here advise on and document commercial sponsorship transactions. Sponsorship is defined as an investment, in cash or kind, in an activity in return for access to the exploitable commercial potential associated with that activity. The term "activity" covers events, individual teams, series of events, books, broadcast programmes and projects. A successful sponsorship is similar to a joint venture or partnership in that the parties work closely together and help each other to achieve their respective commercial aims.

The form of sponsorship contract adopted will largely be dictated by the circumstances and the wishes of the parties. An exchange of letters can be effective and has the advantage of informality. Alternatively, the contracting parties may prefer the full terms to be set out in the agreement. Whichever approach is adopted, it is prudent to ensure that the contract has all the essential elements to make it a binding and enforceable contract and records the agreed terms of the sponsorship. Terms which are too vague will be unenforceable.