The Importance of Contracts in Esports

December 13, 2021

Esports is a rapidly growing industry that is constantly evolving. Companies are starting facilities, new teams and organizations are being founded, and companies are beginning to enter into high-level contracts for their business.  As such, individuals, and companies should be consulting with an experienced attorney who understands the intricacies of contracts to ensure their protection.

As in any business, individuals and companies do not want to enter into a relationship or agreement without having a clear contract that states the responsibilities and duties of each party.  This will allow each party to the agreement to operate under the agreement and give guidance on how a party is required to perform.  Without a clear contract, there may be difficulty enforcing obligations against a party, or ensuring that the contract is fulfilled.

In preparing, negotiating, and finalizing any contract, an individual or company should not assume that the contract is always fair.  An individual or company should seek the assistance of an experienced attorney who can assist with the intricacies of the contract’s terms and protect their interest.  Attorneys are also able to answer questions and explain the details of the contract so that a party understands the entire agreement before signing.  If a party does not consult with an attorney, there could be serious legal consequences in the future.

As the Esports industry continues to grow, and the revenues for entities continue to increase, the contract provisions are bound to become more complex.  This is again where consulting with a contracts attorney can be beneficial.  As in other industries, Esports is a business built on strong relationships.  Companies should consider their legal counsel an integral part of their operations, and not be afraid to contact them for advice even in the early stages of negotiations.  Utilizing the services of an attorney throughout the negotiation process can assist in bringing an agreement to the finish line, and ensuring the contract benefits the client.

If there are questions, attorney Jared P. Vasiliauskas can be reached at
jared.vasiliauskas@powercronin.com


   Jared Vasiliauskas Linkedin
Attorney, Power & Cronin
Secretary, Esports Trade Association | 2020-2022

 

DISCLAIMER: This information is being provided as general information to the reader and is not to be considered legal advice. There is no attorney-client relationship being formed by the reader and either Jared P. Vasiliauskas or Power & Cronin, Ltd.

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