Athletes who invest time and money into their NIL should protect it as best as possible. Filing a trademark is one way to protect your business, brand and earnings.
Trademarks can be pricey and very complicated to file for, but here are a few things to consider if you’re asking yourself, “should I protect my NIL with a trademark?”
What is a trademark?
A trademark is a combination of words and/or symbols that allow consumers to identify a brand with a specific good or service.
There are multiple ways that your NIL can be protected with a trademark registration, including:
- Your name or nickname should be at the top of the list since your name recognition creates a direct link between you (the athlete) and your product/service offerings. This can also be helpful if you have a very common name or if you want to market yourself with a very specific nickname. Think of basketball examples like Giannis Antetokounmpo’s nickname ‘GREEK FREAK”.
- Catchphrases or slogans can also stick to your image and are great ways to create connections to your fans, businesses or partnerships. Another basketball example is Joel Embiid’s slogan ‘THE PROCESS”.
- A logo you create can also be trademarked for NIL, especially when the image creates a connection between the consumer and the owner of the logo.
Why is trademarking NIL important?
Besides understanding basic legal concepts, it’s important to trademark your NIL to protect your brand and to help build your community. The following items are examples of what a trademark can protect:
- Having your NIL trademarked provides you legal protection, especially when it comes from protecting against counterfeiting and fraud.
- Trademarking your name can give you control on how your name is used or not used
- Registering at the national level (for example, the USPTO) brings stronger protections associated with your trademark, which also allows you to file for international protections.
- Visually, trademarking allows you to show the ® symbol, which gives you the ability to show your consumers and competitors that your trademark is yours
- It’s important to consider future earnings as well. Trademarking a name, logo, or catchphrase for future endeavors beyond sports (for example merchandise, sports services, etc.) is a great way to protect the business you intend to grow after your playing days are over.
How can I get help?
To prevent errors or a loosing money (for example, you can’t get refunds if you apply for a trademark with an incorrect name) you can work with a trademark attorney who can provide you with assistance and help you navigate your steps as an NIL earner. There is also the ‘DIY’ route, where you can partner with attorneys on websites like LegalZoom.com
How much does an NIL trademark cost?
To find out how much your trademark costs, do your research. In a quick google search I’ve seen trademark services for as low as $49 online to as much as $500+. If you’re scaling a profitable NIL business slowly, consider investing in a trademark that will help protect your NIL.
One more thing to note: if you’re not able to build considerable earnings from NIL as an athlete, don’t forget that you can earn money working for established businesses. The legalization of NIL gave collegiate athletes the ability to earn money off of their name, image and likeness, which also means they can work for other business and earn money as an athlete. Examples of this include working part time on campus or working remotely.