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- A stadium or arena naming rights agreement is a unique type of trademark license agreement in which the licensor pays the licensee. And instead of the licensee receiving a privilege, the licensee accepts an obligation to use the licensor's brand on stadium or arena signage and when promoting the stadium or arena.
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What is a Naming Rights Agreement? A naming rights agreement is a contract between two or more parties that allows one party the exclusive right to name a property, location, or event for a set period. Naming rights agreements are commonly used for things like naming stadiums and sporting events.
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Dec 11, 2023 · A naming rights agreement is a contract between a company and an operator or owner of a venue, building, event or facility. Under such agreements, a company obtains the exclusive right to name a venue, building, event or facility by making royalty payments or providing other benefits.
Sep 14, 2019 · This Stadium Complex Cornerstone Naming Rights and Sponsorship Agreement (this “Agreement”) is made and entered into as of September 14, 2019 (the “Effective Date”) by and between (i) Social Finance, Inc., a Delaware corporation (“Naming Rights Partner”), and (ii) Stadco LA, LLC, a Delaware limited liability company (“StadCo”).
Naming rights are a financial transaction and form of advertising or memorialization whereby a corporation, person, or other entity purchases the right to name a facility, object, location, program, or event (most often a sports venue), typically for a defined period of time.
Today, naming rights and sponsorship deals are booming. More than 80 out of the approximately 120 teams in the NFL, NHL, NBA and MLB have their home stadia or arenas named after corporate sponsors, 1 college and universities have begun seeking out corporate sponsors for their stadiums (for example, the KFC Yum!
With naming rights representations with an aggregate value in excess of $4.6 billion and significant experience on both the sports and entertainment property and the sponsor side, we are among the most active law firms in the world in advising with respect to naming rights transactions.
Naming rights deals are one of the most complex forms of sponsorship agreements. This inbrief guide seeks to get rights holders thinking about all the key issues which will need to be included in the agreement, before they negotiate any deal. 1 Scope of rights. The single most important thing is to define precisely what is being sold.
