Sponsorships are a common form of advertisement on social media as well as new media (such as podcasts and video streams). A sponsor is a person or company who pays to support someone else and receives something in return, like the right to a podcast advertisement. Anyone who is or works with a sponsor should have a written agreement that describes the terms of the business relationship. This post will identify the top 5 things that belong in a Sponsorship Agreement. I’ve written in the past about related topics, such as Legal Rules for Influencers on Social Media and Social…