I came across this informative content from the Adsense Help Center which answered a particular question that my colleagues and I had:
Can I place Google ads on the same page with other ads?
"You're welcome to display Google ads on the same site or page as other third party advertisements provided that the formatting or colors of the third party ads is different enough from that of the Google ads. In other words, if you choose to place non-Google ads on the same site or page as Google ads, it should always be clear to the user that the ads are served by different advertising networks and that the non-Google ads have no association with Google. If the formats are naturally similar, we ask that you choose different color schemes for the competing ads."
More info can be found at the Program Policies page.
Also see Terms and Conditions.