What should I include in a sponsorship agreement?
A sponsorship agreement should include the parties involved, the scope of the sponsorship, payment terms, duration, and termination clauses.
What are the legal implications if one party breaches the agreement?
If one party breaches the agreement, the other party may seek damages, terminate the contract, or pursue legal action depending on the terms.
Can I include exclusivity clauses in the agreement?
Yes, exclusivity clauses can be included to prevent the sponsor from supporting competing entities during the agreement period.
What happens if the event is canceled?
The agreement should specify cancellation terms, including whether the sponsor will receive a refund or if the agreement will be modified.
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