sponsorship agreement

A sponsorship agreement is a formal contract between two parties, typically a business and an individual or organization, where one party provides support—usually financial or in-kind resources—in exchange for promotional benefits. This could include advertising, brand exposure, or exclusivity at events. For example, a company might sponsor a sports team, gaining visibility through logos on uniforms. The agreement outlines the specific terms, including the duration, responsibilities, and expectations of both parties, ensuring mutual benefit and clarity in their partnership.