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Articles2022-08-30T14:29:29-07:00

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Beware of “Hotel California” Contracts

Beware of what I call "Hotel California" contracts.  These are contracts that may be easy to enter into but difficult to leave (i.e., terminate). Before you sign a new contract, train yourself to think like a spy entering a hotel lobby, "Where are my exits if things go awry?" For more on this, please read my article: "Your Right to Terminate: Quite Possibly the Most Important Right in Your Business Contract."  Relationships change, and some ...

Free, Publicly-Available Startup Company Forms and Document Generators

The angel investor network Blue Water Angels has compiled a nice summary of free, publicly-available, startup forms and document generators, including direct links to those forms and generators, all available here. Remember: even if you start with a good form, always engage your favorite corporate lawyer to review your documents before signing off. The devil is in the details.

How to Create a Simple Cash Bonus Plan to Incentivize and Attract Employees

Your employees, like wide receiver Rod Tidwell (Cuba Gooding Jr.) in the classic movie Jerry McGuire, are valuable commodities.  They will stay with you if offered proper incentives, especially if you "show them the money." One of the best ways to do this is to create a simple cash bonus plan.  A cash bonus plan offers employees a financial reward for achievement of corporate, business unit and/or individual goals. The goals can be short-term (e.g., annual or quarterly) ...

The Top 8 Issues in Sponsorship Sales/Strategy Consulting Agreements

Maximizing sponsorship revenue for an event or brand often requires greater resources than those available within a rights-holder's internal organization.  Fortunately, there are several reputable consulting companies that provide sponsorship sales and strategy consulting to bridge the gap. The consultants, which range from big players such as IEG/ESP Properties and Legends to boutiques like Caravel Marketing, provide a range of sponsorship-related services, including valuation, packaging, content creation, branding, analytics, activation strategies, customer engagement and sales representation. I have helped clients negotiate successful arrangements with sponsorship consultants and ...

Sponsorship Agreements: Rights of First Negotiation (ROFNs) and Rights of Last Refusal (ROLR)

In a previous article, I discussed Rights of First Offer (ROFOs) and Why You Need Them in your sponsorship agreement if you are a sponsor.  But if you are not the sponsor and instead you are the event or other sponsorship rights-holder, the ROFO will limit competitive bidding for your valuable sponsorship rights and may therefore decrease your sponsorship revenue. For this reason, if a sponsor seeks to include a ROFO in a sponsorship agreement, the event or other rights-holder should usually either ...

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