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SEM II Vocab
| Term | Definition |
|---|---|
| Lanham Act | prevents trademark infringements; violations result in injunctions and fines |
| Sherman Antitrust Act | this law makes restraining free trade and competition illegal |
| Trademark infringement | when one organization copies, counterfeits, or reproduces another company's trademarks to use for its own profit |
| Injunction | an equitable remedy in the form of a court order that requires a party to do or refrain from doing specific acts |
| Collective bargaining agreement | contract negotiated by a players' association |
| Ticket scalping | reselling tickets for more than their face value |
| Option to renew | provision in a contract under which the team owner or athlete has the choice of renewing the concluded-contract for another term |
| Right of first refusal | gives 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 the transaction with a 3rd party |
| Right of privacy | meant to mentally and emotionally protect a person |
| Right of publicity | meant to financially protect a person |
| Identity misappropriation | unauthorized use of another's name, likeness, or identity without that person's permission |
| Lockout | when players' associations and leagues can't reach mutually agreeable terms |
| Players' associations | athletes in major leagues begin forming unions |
| Free agency | allows athletes to move from team to team |
| Blackout | when a league blocks the broadcast of a certain game in a certain territory |
| Collective bargaining | employees joining together as a single unit to negotiate with employers |
| Contracts | agreements enforceable by law that detail the transaction of business |
| Handler | person sponsors a pay to work closely with athletes who are unable or unwilling to police themselves |
| Non-compete clause | prohibits a person from working in a competing business for a specific period of time |
| Intellectual property | the unique works of writers, artists, and musicians that can be protected under copyright law |
| Exclusivity | limited or hard to supply |
| Trademark | the legal protection of words and symbols used by a company |
| Salary cap | a maximum amount that a team can spend on players' salaries |
| Advisers | financial and business counselors for celebrities |
Created by:
Mahni_
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