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SEM2 1.01-1.03 Vocab
SEM2 Vocabulary list
Term | Definition |
---|---|
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, copyright, trademarks, and trade, secrets. Federal and state laws protect intellectual rights from misappropriation and infrigement |
Patent | A grant made by the government that the inventor of a creation has the sole right to make use, and sell that invention for a set period of time |
Trademarks /Service 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 |
Certification Marks | A mark used by one or more persons, other than the owner, to certify the region, materials, mode of manufacture, quality, or other characteristics of specific goods or services |
Collective Marks | Trademark or service mark used by members of a 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 condidtions |
Exclusivity | A sponsorship where only one partner is promoted or allowed promotional oppurtunities |
Licensee | Buyer of the copyrighted, patented, or trademarked material |
Licensor | Owner of the copyrighted, patented, or trademarked 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 |