Sports stars as product endorsers: Agreements and critical terms

Abstract

Endorsements by sports stars carry considerable weight with the purchasing public, but to get the most out of a company's association with the star, a company should have a strong written agreement setting forth critical terms. A written agreement serves three purposes: (1) to clarify rights; (2) to create and preserve value of the endorsement; and (3) to allocate risks, including the risks involved if an athlete's reputation changes.