Companies spend billions of dollars to associate their products or brand with celebrities, athletes, and sports franchises. This session will provide in-house counsel an opportunity to learn the critical components of sponsorship and endorsement agreements. It will cover the cornerstones — grant of rights, category exclusivity, use of marks, indemnification, term and termination, IP ownership, reps and warranties, delivery of elements, activation, and ambush marketing — as well as strategies for avoiding common negotiation pitfalls. The panel will discuss applicable sports and entertainment union coverage and rules that may affect your bottom line as well as frequent deal terms that may trip you up when engaging high-profile talent to endorse or advertise your brand or product.