Endorsement Agreement Between Apparel Company and Licensor of Professional Athlete - Replacing Agreement with former Licensor
About this form
The Endorsement Agreement Between an Apparel Company and the Licensor of a Professional Athlete is a legally binding document that outlines the terms under which a company can use an athlete's name, image, and endorsements to promote its products. This agreement is essential when a company wishes to continue its promotional activities with a new licensor to replace the former licensor. It ensures the apparel company secures the rights to use the athlete's identity while protecting both the athlete's and the licensor's interests.
Key components of this form
- Definitions of important terms such as "Contract Period," "Gross Sales," and "Licensed Products."
- Grant of rights to use the athlete's name and likeness for promotional activities.
- Remuneration structure including annual fees and bonuses for specific achievements.
- Approval process for marketing materials that feature the athlete.
- Conditions under which the agreement can be terminated or suspended.
Situations where this form applies
This form should be used when an athletic apparel company wants to formalize its relationship with a professional athlete while replacing a previous licensorâs agreement. It is particularly relevant if the previous endorsement agreement is about to end and the company wishes to ensure continuity in its marketing efforts with the athlete. This agreement lays the groundwork for future promotional activities involving the athlete's endorsements in relation to the company's products.
Who this form is for
This agreement is intended for:
- Athletic apparel companies looking to engage with professional athletes for endorsements.
- Licensors who represent professional athletes and manage their endorsement rights.
- Professional athletes seeking to formalize their endorsement agreements with apparel companies.
Instructions for completing this form
- Identify the parties involved, including the athletic apparel company, the licensor, and the athlete.
- Specify the contract period start and end dates, as well as any relevant milestones.
- Outline the fee structure, including annual payments and conditions for bonuses based on athlete achievements.
- Include definitions for key terms to avoid ambiguities later in the agreement.
- Obtain necessary approvals for marketing materials that will feature the athlete.
Notarization guidance
Notarization is not commonly needed for this form. However, certain documents or local rules may make it necessary. Our notarization service, powered by Notarize, allows you to finalize it securely online anytime, day or night.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Mistakes to watch out for
- Failing to define key terms clearly, which can lead to misunderstandings.
- Not obtaining timely approvals for marketing materials that include the athleteâs likeness.
- Neglecting to outline payment schedules, which may result in disputes.
- Omitting renewal terms, leading to potential gaps in endorsement continuity.
Why complete this form online
- Convenient access to professionally drafted legal language adapted for your needs.
- Editability allows for customization of terms to meet specific requirements.
- Reliability of using a template created by licensed attorneys, ensuring legal compliance.
- Instant download for immediate use, without the need for in-person meetings or consultations.
- The agreement is legally binding once signed by all parties, ensuring mutual rights and obligations are enforceable.
- It protects both the apparel company and the athlete's licensor against unauthorized use of the athlete's likeness.
- Termination clauses provide a clear exit strategy should the relationship need to be dissolved.
Summary of main points
- This agreement is crucial for athletic companies looking to secure endorsements from professional athletes.
- Clear definitions and terms help prevent future disputes between the parties involved.
- Proper completion and approval of this form ensure a smooth endorsement process.
- Understanding the specific roles of each party can facilitate the negotiation and execution of the contract.
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FAQ
Licensing in the fashion industry is when a brand (ex. Dior) gives permission to a company (ex. Luxottica who makes eyewear) to use their name on merchandise.
Apparel licensing transactions generally involve a right for a licensee to use your design to make and sell licensed products. Make sure you clearly spell out what specific products you want the licensee to make using your trademark.The license agreement should also spell out how you get paid and on what basis.
A seller's permit is a state license that allows you to sell items at the wholesale or retail level and to issue resale certificates to suppliers.You are not required to hold a seller's permit if all your sales are made exclusively in interstate or foreign commerce, and you make no sales in this state.
The licensor being able to utilize the licensee's distribution network to quickly enter into new geographical regions and foreign markets. The licensor facing lower capital requirements and lower costs due to not having to invest in distribution.
In UK business, clothing is not a strictly regulated space and you won't require a specific license to sell it (unless you're trading at a market, in which case you'll need a market stall license).
Clothing retailers--and most small businesses, for that matter--should choose an LLC structure. Setting up an LLC protects you from personal liability.Corporations limit your personal liability too, but LLCs have additional merits.
STEP 1: Plan your business. STEP 2: Form a legal entity. STEP 3: Register for taxes. STEP 4: Open a business bank account & credit card. STEP 5: Set up business accounting. STEP 6: Obtain necessary permits and licenses. STEP 7: Get business insurance. STEP 8: Define your brand.
Sell, sell, sell As with many retail businesses, clothing is not a particularly heavily regulated space you don't need any kind of license or certificate to start selling clothing, and as long as you have the equipment and means to sell, you can get started at the drop of a hat.
A common example is food retail brands with large followings in their own market.Licensing the brand to a local company with market expertise allows the brand to be monetized with limited risk, as with Top Shop.
