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SEMII

sports marketing

TermDefinition
Handler People sponsors pay to work closely with athletes who are unwilling to police themselves
Advisor Financial and business counselors for celebrities
Non-compete clause Prohibits a person from working in a competing business for a specific period of time
Contracts Agreements enforceable by law that detail the business transaction
Intellectual property The unique works of writers, artists, and musicians that can be protected under copyright law
Lanham Trademark Act is the primary federal trademark statute of law in the United States
Trademark Infringement Counterfeit material without permission to sell the product with that brand name
Sherman Anti-trust Act The definitive antitrust statute, passed by Congress in 1890, that prohibits monopolies or unreasonable combinations of companies to restrict or in any way control interstate commerce
Collective bargaining A group of employees join together as a single unit to negotiate with employers
Injunction an authoritative warning or order
Identity Misappropriation is the unauthorized use of another's name, likeness, or identity without that person's permission, resulting in harm to that person
Ticket Scalping Overpricing of sports tickets
Option To Renew option for an athlete to get out of his contract and renew it
Right of First Refusal is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party.
Collective bargaining agreement contract negotiated by a players' association
Salary Cap a maximum amount that a team can spend on players' salaries
Blackout When a game is not showed in a particular area
Exclusivity a state of being limited or hard to access
Free Agency When a athlete is not signed with a particular team
Lockout When the player's association cannot make an agreement so they shut down for a little while
Player's Association labor unions for athletes in major professional sports
Prize Indemnity insurance for a promotion in which the participants are offered the chance to win prizes. Instead of keeping cash reserves to cover large prizes, the promoter pays a premium to an insurance company
Right of Privacy the qualified legal right of a person to have reasonable privacy in not having his private affairs made known or his likeness exhibited to the public having regard to his habits, mode of living, and occupation
Right of Publicity is the right of an individual to control the commercial use of his or her name, image, likeness, or other unequivocal aspects of one's identity.
Trademark the legal protection of words and symbols used by a company
Created by: lukeburch98
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