A trademark is a legal protection for a brand’s identifying features, including names, logos, slogans, and even certain designs. For athletes looking to monetize their NIL, trademarks are an essential tool that offers several key benefits:
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Brand Protection:
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Athletes who build their personal brand without trademark protection run the risk of others using or misappropriating their identity. By securing a trademark for their name, nickname, or logo, athletes gain exclusive rights to use those identifiers in commerce.
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For example, if an athlete gains popularity and starts selling merchandise without trademark protection, another company could create similar products using the athlete’s name, causing confusion among fans and customers. A trademark ensures the athlete controls the use of their brand and prevents others from profiting off their success.
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Increased Brand Value:
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A registered trademark adds value to an athlete’s brand by making it a legally recognized asset. This can attract more lucrative sponsorship deals and partnerships because businesses prefer to align with individuals who have secure, well-defined brands.
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A trademark can also be licensed to third parties, allowing athletes to earn passive income from their brand while ensuring they maintain control over how their image is used.
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Long-Term Revenue Streams:
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Trademarks aren’t just for today—they create long-term value. Even after an athlete retires from sports, their name, logo, or other brand elements may continue to generate income through licensing, merchandising, and sponsorships.
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Think of athletes like Michael Jordan, whose “Jumpman” logo and brand continue to generate significant revenue long after his basketball career ended. Proper trademark registration early in an athlete’s career can set them up for continued financial success.
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Preventing Infringement:
- Athletes who fail to secure trademarks may face legal battles when others attempt to use their NIL without permission. Having a registered trademark makes it easier to enforce rights and prevent others from infringing on the athlete’s brand.
Let us know if The Law Firm of Andrea Hence Evans, LLC can help you to understand NIL and protect your IP.