Want Tiger Woods on your Wheaties box or Charlize Theron selling your Dior perfume? There’s often no better endorsement for a company’s product than one straight from a celebrity’s lips to the customers’ ears. But there are some key terms that in-house lawyers must be aware of when drafting, revising or reviewing a celebrity endorsement contract.
In a post on Covington & Burling’s Brand Blog, Elizabeth Stary and Simon Frankel discuss the following key issues to consider when negotiating with the A-list.
Exclusivity
The authors note a celeb’s exclusive representation is perhaps necessary to “ensure that the value of this investment will not be eroded because of an association between the celebrity and a competitive product.” So if you’re paying the big bucks, ensure there’s a clause in there to product you from the competition.
