Sponsorship Contract

The contract for sponsorship has no explicit rules, but is widespread in practice.
The sponsorship contract in general could be defined as a contract under which the sponsored person receives economic aid from the sponsor for the implementation of sports, cultural, scientific or other activity for which undertakes to promote the sponsor by promoting its name, brand, business or its products.
Sponsorship can be geared to support a specific event, such as: concerts, exhibitions, sporting event, the issue of literary work, and so on.
Parties to the sponsorship is person providing economic assistance to any entity to support a particular activity or event – sponsor and the person who undertakes to cooperate in exchange for sponsor advertising – sponsored.
Sponsor may be a legal person (in practice most sponsors have different associations, foundations, banks, commercial companies) or adult individual.
Minors can be sponsored, but can not be sponsors.
Sponsored could be as an individual and legal entity.
The sponsorship contract is concluded with agreement between the parties, which need not be dressed in writing reality.
Parties to the sponsorship is person providing economic assistance to any entity to support a particular activity or event – sponsor and the person who undertakes to cooperate in exchange for sponsor advertising – sponsored.
Given that no explicit rules on sponsorship contracts, the parties themselves determine their rights and obligations, without prejudice to the mandatory rules of law and morality.
Usually by contract for sponsorship sponsor agrees to provide economic assistance to the sponsored person to implement an activity or event, sponsored and undertook to promote and popularize the name (company), business or products of the sponsor.
In all cases, the consideration that due to the sponsored person is not equivalent to the property provided by the sponsor economic assistance.