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1. What is a Co-branding and promotion agreement? 

When two famous brands collaborate for the purpose of creation, development, marketing, and promotion of a new product or unique or new line of product, they enter into a co-branding agreement. This agreement defines the roles and responsibilities of both the parties, contribution to make, revenue sharing, Intellectual properties, confidential information, and liabilities of both the parties to the agreement. Co-branding is a market strategy, which enables the companies to benefit from each other's goodwill. 

2. Why is it important? 

a. It combines the market strength of two brands and helps to overcome each other's weaknesses, which ultimately results in the creation of more quality products.

b. It increases the customer base, profitability, reliability, and market share of the brands. 

c. It helps in extension of brand name.

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