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1.01-1.03 Vocabulary

Vocabulary

TermDefinition
Ethics recognizing the difference between right and wrong, then choosing what is right
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 grant made by the government that the inventor of a creation has the sole (only) right to make use, and sell that invention for a set period of time
Trademarks/ Ser Vice Marks word,phrase,symbol,or design that identifies and distinguishes 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
Trademark Infringment illegal use of 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 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 promoted or allowed promotional oppurtunities
Licensee buyer of copyrighted,patented,or trademark material
Licensor owner of a copyrighted, patented, or trademark material
Lockout businesses close and aren't allowed to work
Lucrative profitable
Strike stop working and leave jobs
blackout when a league blocks the broadcast of a certain game in a certain territory
Players' Association 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: sydneyw692