Starting July 1, 2021, college athletes will be able to capitalize on their name, image or likeness. While there will be a frenetic pace for athletes to capitalize on business opportunities no previously open to them, its necessary to ensure that they do everything right to avoid future legal issues.
Filing for IP (Copyright and Trademark) protection, reviewing contracts, vetting business opportunities and perhaps creating a business entity may be necessary for those athletes seeking to take advantage of their NIL. Seeking out an attorney will be helpful to navigate the business basics.