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Contract Negotiations
In this assignment, I had the opportunity to apply contract negotiation strategies to real-world marketing scenarios. The task required me to analyze four different business situations and create mind maps for each, identifying key negotiation points and explaining why they were important.
The four scenarios covered different aspects of marketing contracts, including:
1. Negotiating a contract between a marketing agency and a graphic designer for external campaign content.
2. Establishing terms for a web content developer building a marketing website for a social media application.
3. Creating a contract for an independent contractor athlete or celebrity participating in an event.
4. Negotiating an endorsement deal for a professional athlete or celebrity representing a brand.
For each scenario, I brainstormed seven key points of negotiation—such as payment terms, intellectual property rights, exclusivity clauses, and liability issues—and explained their significance. This process helped me understand how contracts are structured and customized to fit different business needs.
Through this assignment, I developed issue spotting skills, a crucial part of contract negotiations, and gained a deeper understanding of the legal aspects of marketing agreements. It reinforced the importance of thinking strategically, protecting business interests, and ensuring clarity in contract terms. This exercise provided valuable insight into the legal relationships between companies, sponsors, vendors, and consumers, which will be essential in my future marketing career.
MARKETING AGENCY & GRAPHIC DESIGNER
WEB CONTENT DEVELOPER AGREEMENT
INDEPENDENT CONTRACTOR AGREEMENT FOR EVENT PARTICIPATION
ENDORSEMENT AGREEMENT
