Influencer-brand partnerships have become the cornerstone of many successful marketing campaigns. These collaborations often involve contracts that outline various terms, such as deliverables, compensation, usage rights, and exclusivity clauses. However, the allure of partnerships sometimes leads influencers to overlook the fine print, exposing them to potential risks.
Benefits of contract review:
- Understand complex clauses. A contract attorney can review your agreement and help break down clauses that are convoluted or difficult to understand. This is important for influencers because you should understand exactly what you are agreeing to do, or not do, under the agreement.
- Protect influencers’ interests. During review, a contract attorney highlights specific clauses that majorly affect the influencers’ interests, such as compensation, intellectual property rights, and termination. Influencers must pay special attention to these so they know their rights and responsibilities.
- Negotiate favorable terms. Upon review of a contract that contains language unfavorable to the influencer, a contract attorney can negotiate better terms for the influencer. Negotiating with an attorney typically leads to a more favorable outcome than trying to negotiate on your own behalf. It also sends the message to the brand that the influencer is professional and accountable.
Risks of overlooking contract review:
- Ambiguous terms. Skipping contract review with an attorney can result in ambiguous terms in your agreement. The problem with this is that you and the brand may have different ideas of what your role entails. If the contract provides no clarity, a dispute may arise. Contract review eliminates this worry by clarifying ambiguous terms before they become an issue.
- Potential legal disputes. Without the clarity provided from contract review, each party may have different goals in mind. In the event of a disagreement, a legal dispute may arise. Contract attorneys can help avoid this situation by reviewing your agreements, which ultimately saves you time and money.
- Damage to influencer’s reputation. If influencers end up in a dispute with a brand because of their contract, there may be more damage than just time and money spent. The influencer’s reputation could be negatively impacted from the publicity of the dispute. In some cases, this is the worst scenario because the influencer’s business depends on their reputation with their followers. Damage to their reputation may effect their ability to make money in the future.
In the big picture, the benefits outweigh the risks. Having a trusted contract lawyer review your agreements may actually be quicker, cheaper, and safer in preventing potential issues than confronting them when they arise. Contract review is not merely a formality, but rather a strategic move to mitigate risks and secure favorable terms for yourself. Contact Venustas Law to review your contracts!