Joint marketing agreement template

Designed to facilitate collaboration between businesses, this template ensures that your co-marketing efforts are clearly defined and legally sound.

Joint Marketing Agreements (JMAs) are pivotal for businesses looking to leverage shared resources and audiences to maximize their marketing impact. Whether you're co-hosting a webinar, launching a co-branded product, or embarking on a joint sales initiative, a JMA provides a framework to ensure mutual benefit and protect each party's interests. 

But what exactly is a joint marketing agreement, who needs them, and how do you create one? Let's dive in.

What is a joint marketing agreement (JMA)?

A JMA is a strategic partnership between two or more organizations that agree to collaborate on marketing initiatives. This type of agreement outlines the terms of the partnership, including roles, responsibilities, financial contributions, and how the generated revenue or leads will be shared.

Parties use JMAs to combine their strengths and compensate for their weaknesses, allowing for more effective and comprehensive marketing strategies. These agreements can cover a wide range of activities, from simple co-promotion to complex joint sales strategies involving shared resources and intellectual property.

Unilateral vs. bilateral joint marketing agreements

Joint Marketing Agreements can be unilateral or bilateral. A unilateral JMA involves one active party providing the marketing efforts while the other provides resources or permissions. In contrast, a bilateral JMA sees both parties actively engaging in the marketing process, sharing resources, responsibilities, and benefits equally.

When should you use a joint marketing agreement?

There are several scenarios where a JMA can be beneficial:

• Launching a co-branded product. When two companies come together to create a new product, a JMA can outline the marketing responsibilities and how profits will be shared.
  ‍
• Co-hosting events. For events like webinars, trade shows, or conferences, a JMA can detail the logistics, marketing duties, and division of costs and leads.
  ‍
• Shared promotional campaigns. When businesses want to pool their marketing resources to promote their individual products or services, a JMA can ensure that costs and benefits are split fairly.
  ‍
• Cross-promotion. Companies might agree to promote each other's products to their respective customer bases, and a JMA can define the scope and limits of such an arrangement.
  ‍
• Joint sales initiatives. When sales teams from different companies work together to cross-sell or upsell products, a JMA can help manage the process and distribution of revenue.

Who creates JMAs?

Marketing, sales, and legal teams are typically involved in the creation of JMAs. The legal team often drafts the initial template to ensure compliance with relevant laws and regulations, while marketing and sales teams provide input on the strategic aspects of the partnership.

What should a joint marketing agreement template include?

A comprehensive JMA should cover several key elements:

• Details of the parties involved. Clearly identify all the organizations and individuals who are part of the agreement.
  
  
• Scope of the marketing initiative. Define what the marketing campaign will entail and the goals each party hopes to achieve.
  
  
• Roles and responsibilities. Outline who is responsible for each aspect of the marketing campaign, from creative inputs to financial obligations.
  
  
• Financial arrangements. Detail how costs will be shared, how revenue or leads will be distributed, and the terms of payment.
  
  
• Term of the agreement. Specify the duration of the partnership and under what conditions it can be extended or terminated.
  
  
• Confidentiality clauses: Protect proprietary information shared during the partnership.
  
  
• Dispute Resolution. Establish how conflicts will be managed and resolved.
  
  
• Legal Jurisdiction. Define which laws govern the agreement and where disputes will be settled.

Managing JMAs manually vs. automation

Creating a JMA from scratch can be time-consuming. The traditional process often involves back-and-forth communication, manual drafting, and a high risk of errors. Automating your JMA with a platform like Juro can save time, reduce errors, and streamline the approval process.

The benefits of automating your joint marketing agreement template

Automating your workflow can lead to:

• Consistency. Ensuring all JMAs follow a standard format and contain all necessary clauses.
  
  
• Efficiency. Speeding up the agreement process, allowing marketing campaigns to launch faster.
  
  
• Transparency. Providing clear visibility into the status of each agreement for all stakeholders.

Common questions about joint marketing agreements 

Can JMAs be modified after signing?

Modifications can be made if both parties agree and the changes are documented in writing.

What happens if one party doesn't fulfill their obligations?

The agreement should outline the consequences, which may include termination of the partnership or financial penalties.

Is a JMA legally binding?

Yes, when executed correctly, a JMA is a legally binding contract.

Can you enter into a JMA with an international partner?

Yes, but ensure the agreement specifies which country's laws will govern the contract.

How long does a JMA last?

The term will be specified in the agreement and can vary based on the campaign or project duration.

Automate joint marketing agreements with Juro

If managing JMAs is becoming a bottleneck for your marketing team, consider exploring contract automation with a platform like Juro. It's an all-in-one solution that helps teams create, manage, and track JMAs in a unified workspace.

Ready to streamline your co-marketing efforts? Book a demo with Juro today.