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1.01-1.03 Vocab.

Ethics Definition
Code of conduct a set of conventional principles and expectations that are considered binding on any person who is a member of a particular group
agent an athlete/entertainer representative that helps with endorsements and negotiations
intellectual property patents, copyrights, trademarks, and trade secrets. federal and state laws protect intellectual property rights from misappropriation and infringement
patent a gant made by the government that the inventor of a creation has the sole(only) right ti make use, and sell that invention for a set period of time
trademarks/service marks word, phrase, symbol, or design that identifies and distinguish a company from others and is granted legal protection through the united states patent and trademark office
copyright an exclusive right granted by the federal government allowing the owner to reproduce and sell an artistic or published work
certification mark a mark used by one or more persons, other than the owner to certify the region materials mode or manufacture quality or other characteristics of specific goods or services
collective marks trademark or service mark used by members of cooperative an association or other collective group or organization
trademark infringement illegal use of a trademark or service mark use without the permission of the owner of the trademark or service mark
ticket scalping reselling tickets for more than their face value
sherman antitrust act first federal action against monopolies it was signed into law by harrison and was extensively used by theodore roosevelt for trust busting however it was initially misused against labor unions
collective bargaining negotiations between representatives of labor unions and management to determine pay and acceptable working conditions
exclusivity a sponsorship where only one partner is promoted or allowed promotional opportunities
license buyer of the copyrighted,patented to trademarked material
licensor owner of the copyrighted, or trademarked material
lockout businesses close and arent allowed to work
lucrative profitable
strike stop working and leave leave jobs
blackout when a league blocks the broadcast of a certain game in a certain territory
players associations the labor unions that represent the athletes in professional sports
free agency an athletes ability to renegotiate his/her contract with his/her existing team or with another team
Created by: linnijah
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