Robert & Diane Schwartz - Page 8




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          advertisements on the Diane; (2) building franchises; (3)                   
          chartering the Diane; and (4) reselling the Diane.                          
               1.   Sponsorships                                                      
               The 50-foot class of boats developed in the late 1980s in              
          Europe for the Admiral’s Cup race.  At that time, yacht races for           
          this class of boats were heavily sponsored by different banks and           
          corporations; thereafter, the class began to develop in America             
          with numerous sponsors in order to train for the America’s Cup              
          race.  Further, yachting events have become major sporting                  
          events, with races being nationally televised.                              
               Petitioners, therefore, expected to find sponsors through              
          the Association, which made a promotional videotape.  Petitioners           
          also mailed out hundreds of letters, with followup phone calls,             
          to solicit other sponsors in 1993.  Because of Mr. Schwartz’s               
          profession, petitioners expected to receive sponsorships from               
          pharmaceutical companies.                                                   
               2.   Franchising                                                       
               Petitioners foresaw the formation of an ongoing franchise              
          league for sailboat racing because of the 4-year gap between the            
          America’s Cup races.  Petitioners envisioned that the league                
          would have 20 teams that represented 10 countries.  Petitioners             
          planned to encourage international interest (and, therefore,                
          international sponsorship) in the league by having the Diane                
          sail around the world twice promoting the league.  Petitioners              






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Last modified: May 25, 2011