Capitalism & Trademarks
What do sports/event organizations use to make money from licensed product sales?
trademarks
Why can MLB owners not sue the league if blocked from relocating a team?
MLB exemption
Why are ticket scalping laws hard to enforce?
vary by state, complicated
What is the most important element in a sponsorship agreement?
exclusivity
What law regulates trademarks in the U.S.?
Lanham Act
What act allows leagues to pool and sell broadcasting rights to TV networks?
Sports Broadcasting Act of 1961
What insurance protects teams/sponsors in contests like a $50,000 hole-in-one?
prize indemnity insurance
What does the “option to renew” mean in a sponsorship contract?
Allows sponsor to extend contract after negotiation
What is trademark infringement?
reproducing trademarks causing confusion and lost profits
Name two broadcasting methods not originally covered by the SBA in 1961.
National Labor Relations Act of 1961
What federal law gave workers the right to organize into unions?
National Labor Relations Act
What does “right of first refusal” mean in sponsorship contracts?
Sponsor gets first chance to renew before others
What legal action can organizations take to stop trademark violators before trial?
Injunction
What two rights must marketers respect when using an athlete’s image?
Right of privacy and right of publicity
What is collective bargaining?
Employees negotiate together as one unit with management
Name three common stipulations found in broadcasting contracts.
Exclusivity, territorial rights, copyright credits, technical support, camera locations, sponsor airtime preference
What legal action can organizations take to stop trademark violators before trial?
injunction
What two rights must marketers respect when using an athlete’s image?
Right of privacy, right of publicity
What is collective bargaining?
Employees negotiate together as one unit with management
Name three common stipulations found in broadcasting contracts.
Exclusivity, territorial rights, copyright credits, camera locations, sponsorship airtime preference