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1.01-1.03 vocabulary

TermDefinition
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.
Created by: Landonl214
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