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August 2013 Archives

Stricter endorsement contracts protect against celebrity snafus

Endorsements by high profile athletes are the bread and butter for many companies. Unfortunately though, celebrities are constantly under the watchful eye of the paparazzi and fans. If they do something that draws negative attention to themselves, undesirable consequences can arise for not only the celebrity but also their sponsor. If that occurs, the celebrity can lose their endorsement contract and the income that goes along with it, and the sponsors can lose millions of dollars.