Eight things to mind in leveraging the Schooling Effect

CELEBRITY endorsements are a multi-million dollar business and especially prominent in the world of sports. Companies such as Nike, Under Armour, Puma and Omega spend millions of dollars securing prized endorsements from famous athletes such as Michael Phelps, Usain Bolt and Serena Williams.

Here in Singapore, we are already witnessing the "Schooling Effect", with various brands seeking to leverage the star power of Singapore's first ever Olympic gold medallist.

While celebrity endorsements can be a great way to build awareness of and position the brands, there are some important legal and commercial considerations for brands to bear in mind. Here are our eight key takeaways for brands.