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1.01-1.03 vocabulary
Term | Definition |
---|---|
Ethics | Difference between right and wrong. |
Code of conduct | Set of conventional principles and expectations for a specific group. |
Agent | Representative for an athlete or entertainer. |
Intellectual property | Patents, trademarks, copyrights, and trade secrets. |
Patent | A grant that allows only the creator of an invention to sell their product. |
Trademarks/service marks | words, phrases, symbols, or designs that distinguishes and grants legal protection for a company. |
copyright | exclusive right that allows the owner to sell and reproduce a product. |
certification mark | A mark used to certify the region, materials, mode of manufacture, quality, or other characteristics of specific goods. |
collective marks | Trademark or service mark used by an association. |
trademark infringement | illegal use of a trademark or service mark without permission of the owner. |
ticket scalping | selling tickets for more than their original value. |
sherman antitrust act | Federal action against monopolies. |
collective bargaining | Agreements between labor unions and management to determine pay and working conditions. |
exclusivity | only one partner is promoted in the sponsorship. |
licensee | Buyer of the copyrighted, patented, or trademarked material. |
licensor | owner of the copyrighted, patented, or trademarked material. |
lockout | When businesses are closed and not allowed to work. |
lucrative | profitable. |
strike | Stop working and leave jobs. |
blackout | when the broadcast of a certain game is blocked in a certain territory. |
players associations | labor unions that represent athletes in professional sports. |
free agency | when an athlete has the ability to renegotiate their contract with the same or different team. |