NIL stands for "Name, Image, and Likeness." In the context of college sports, it refers to the ability of student-athletes to monetize their personal brand through licensed products, endorsements, sponsorships, and other opportunities. NIL includes a student-athlete's "Athlete Attributes" to mean name, nickname, initials, autograph/signature, facsimile, voice, caricature, photograph, portrait, picture, image, likeness, jersey number, statistics, data, biographical information or any other identifiable feature of the student athlete.
A student-athlete is an individual who is enrolled in a college or university and participates in athletics at the collegiate level.
An endorsement is an agreement between a company and an individual (in this case, a student-athlete) in which the individual is paid to promote the company's products or services.
A sponsorship is a form of marketing in which a company pays to be associated with an individual or event (in this case, a student-athlete or a college sports team).
An agent is an individual who represents athletes in negotiations with teams, sponsors, and other organizations. In the context of collegiate NIL, agents may work with student-athletes to help them secure endorsement deals and other opportunities.
A contract is a legally binding agreement between two parties (in this case, a student-athlete and a company) that outlines the terms of their agreement, including payment and other obligations.
Compliance refers to the process of ensuring that individuals and organizations are following the rules and regulations set forth by the NCAA and other governing bodies.
Licensing refers to the process of granting permission to use someone's name, image, or likeness for commercial purposes. In the context of collegiate NIL, athletes may license their personal brand to companies for use in advertising and other promotional materials.
Group rights refers to a system in which a group of athletes, rather than individual athletes, pool their NIL rights and partner with third parties for use in commercial ventures. These campaigns and products may also then include the use of University Intellectual Property such as marks and logos.
A collective is a group of individuals who have joined together to achieve a common goal. In the context of collegiate NIL, collectives may represent groups of alumni and fans that pool their resources in support of student-athletes and the university mission. These may be for profit or not for profit.
Active use opportunities refer to instances in which an athlete actively participates in a commercial venture, such as signing autographs, posting on social media, appearing in an advertisement or making a personal appearance.
Passive use opportunities refer to instances in which an athlete's NIL rights are used without the student-athlete's active participation, such as in video games, trading cards or jerseys.
Multi-media rights refer to the rights to broadcast or distribute content across various media platforms, including television, radio, and digital media.
Fair market value refers to the minimum amount of money that a willing buyer would pay a willing seller for a product or service in a free market. In the context of collegiate NIL, fair market value may be used to determine the appropriate compensation for athletes in endorsements and licensed product deals.
Any item manufactured or offered for sale (e.g., jerseys, tee shirts, cups, calendars, etc.) with the permission of the intellectual property owner.