The above list is not exhaustive and companies are encouraged to consult their legal advisors when designing and negotiating sponsorship contracts. In all longer-term contractual relationships, whether an obligation of good faith is explicit or implied (e.g. B because of the categorization of an agreement as relational), the parties should comply with the obligation to behave throughout the contractual life in a way that can be considered „economically acceptable“. The case concerned the renewal of a sponsorship contract between New Balance Athletics and Liverpool Football Club. Liverpool were required to negotiate first with New Balance the extension of the agreement (the first negotiation period). In the absence of an agreement during the first negotiation period, Liverpool could enter into negotiations with a third party. However, if these negotiations with a third party resulted in an offer, New Balance had the right to respond to that third party`s offer. If Liverpool choose to do so, they would be required to enter into a new contract with New Balance. If the sponsorship is important, the parties may consider entering into a sponsorship agreement. Some organizations may consider implementing an internal policy where a sponsorship agreement is required for each financial donation above a certain threshold (e.g.B. gifts over $5,000). Allen &Gledhill Partners` „Sponsorship Q&A: Singapore“ Tham Kok Leong and Alexander Yap provides an overview of Singapore-specific information on important legal issues to consider when entering into a sponsorship agreement. Issues addressed in these issues include intellectual property rights, competition law and sponsorship agreements.
Spain-specific information on the main legal issues that need to be taken into account when concluding a sponsorship agreement. .