Sponsorship agreement template

Sponsorship agreements are an important tool for businesses of all kinds. From brand visibility to generating PR leads, partnership agreements can elevate your company in an ever-digital world.

But what exactly are sponsorship agreements, who needs them, and how can you draft one? Let's dive in.

What is a Sponsorship Agreement?

A sponsorship agreement is a formal contract between a sponsor (typically a business) and the entity being sponsored. This could be an individual, an event, a team, or an organization. 

The agreement outlines the terms and conditions under which the sponsor will provide support, which can be financial, in-kind, or promotional, in exchange for certain rights, benefits or exposure.

Sponsorship agreements are essential for events, sports teams, athletes, and even influencers. They help in securing funds, products or services and in return, offer the sponsor a platform for brand promotion and visibility.

Types of Sponsorship Agreements

Event sponsorship: This is where a company sponsors a specific event, like a music festival or a marathon. In return, the company might get its logo on event materials, a booth at the event, or other promotional opportunities.

Team or athlete sponsorship: Here, companies sponsor sports teams or individual athletes. This could involve providing uniforms, equipment, or financial support in exchange for brand visibility during matches or events.

Media or influencer sponsorship: This involves sponsoring influencers or media personalities to promote a brand or product on their platforms.

When Should You Use a Sponsorship Agreement?

There are numerous occasions when a sponsorship agreement can be used including: 

• Organizing an event. If you're hosting a conference, festival, or any event, securing sponsors can help cover costs and enhance the event's offerings.
• Launching a product. Partnering with influencers or media personalities can boost product visibility and reach a wider audience.
• Supporting a cause. Companies might sponsor charity events or initiatives, aligning their brand with a particular cause or mission.
• Promoting sports and athletes. Brands often sponsor teams or athletes to tap into their fan base and promote products relevant to the sport.

Drafting a Sponsorship Agreement

A well-drafted sponsorship agreement ensures clarity for both parties. Here's what it should include:

• Details of parties involved. Clearly mention the sponsor and the sponsored entity, including contact information.
• Sponsorship details. Outline what the sponsor will provide - be it funds, products, or services.
• Rights and benefits. Specify what the sponsor gets in return. This could be logo placement, mentions in promotional materials, or any other form of visibility.
• Duration. Define the sponsorship's start and end dates.
• Termination clauses. Mention conditions under which the agreement can be terminated by either party.
• Exclusivity clauses. State if the sponsored party can or cannot enter into agreements with competing brands.
• Legal jurisdiction. Specify the governing law and jurisdiction in case of disputes.

Managing sponsorship agreements

Handling sponsorship agreements manually can be tedious. Here's what this process could look like:

1. A team or individual seeks sponsorship and contacts potential sponsors.
2. Upon interest, a draft agreement is shared, often going through multiple revisions.
3. Once finalized, both parties sign the agreement, either physically or digitally.
4. The agreement is stored, often in physical files or digital folders, making retrieval and management challenging.

Challenges in creating sponsorship agreements

• Version control. With multiple revisions, ensuring everyone works on the latest version is crucial.
• Standardization. Different teams might use varied templates, leading to inconsistency.
• Time-consuming. The back-and-forth can delay the finalization of agreements.
• Storage issues. Without a centralized system, storing and retrieving agreements can be a hassle.

Automating Sponsorship Agreements

Modern businesses are turning to automation for managing sponsorship agreements. Platforms like Juro automate the creation and storage of templates, making the process seamless. From creating templates to e-signatures and centralized storage, automation can save time and reduce errors.

Why should you automate Sponsorship Agreements

Consistency: Use standardized templates across the organization.

Efficiency: Reduce the time taken to finalize agreements.

Centralized storage: Easily store and retrieve all agreements from one place.

Enhanced collaboration: Allow multiple teams to collaborate in real-time.

Sponsorship agreements are vital for many businesses and individuals. Ensuring they are well crafted and managed can lead to successful partnerships and mutual benefits.

Automate sponsorship agreements with Juro

Juro’s AI contract collaboration platform enables your team to create, execute and manage contracts 10x faster than traditional tools.

By adopting an all-in-one contract management solution like Juro, you can save time, reduce your tech stack, and free up your legal team for more strategic tasks.

With Juro, you can:

• Safely automate 75 per cent of routine contract admin
• Keep control of contracts as volumes grow
• Get instant insight into your contracts’ data

Whether you are creating sponsorship agreements for businesses or individuals, having a comprehensive template stored will save time and ensure consistency.

To find out more about how Juro can speed up the process of creating, signing and managing contracts, hit the button below.