Protect Your Business
What We Can Learn From Lebron James About Getting A Lawyer
The first thing every athlete should consider before starting a business or getting involved in anything that may involve their intellectual property is to find a lawyer and take the necessary steps to protect said business. What are those steps exactly?
Trademark your business
Copyright your business
Buy the domain name of said business
These 3 steps can make the world of difference for you and save you ultimately in the long run. The reason I’m so passionate about this subject is that I see athletes every day find themselves in unfortunate situations because they weren’t proactive from the beginning. I have to thank my lawyer, shameless plug Sivonnia De Barrios, for me thinking like this because she helped me change my mindset around protecting your business and ideas ahead of time and not when it’s established. Why wait until someone attempts to steal your idea to protect it. It’s like getting a security system in your home after you’ve been robbed.
This whole article stems from the fact that two individuals bought the domain name to Space Jam 2. Yes, Space Jam 2 the movie that Lebron James will star in sometime next year, and neither he nor his partners own the domain. The two individuals that own the domain are doing nothing wrong to be fair, it’s good business on their part. In fact, I believe they are building out a jam company to avoid any legal issues but we all know what’s going on.
Lebron James and Warner Brothers will have to shell out 1 Million Dollars just to get the domain name for something they are behind. While that may not be a lot to them, it serves as a great example for other athletes that may not be on that financial level to know what happens if things aren’t handled accordingly.
Get your ideas protected and hire a lawyer today!
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This article was written and provided as a courtesy of Amobi Okugo, a pro-soccer player and founder of A Frugal Athlete (AFA), an online media and consulting platform that promotes prudent financial practices and smart career decisions amongst professional and student-athletes. AFA offers services like financial coaching, revenue generation, and ideation strategy. Visit their website for further information.
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Are You ready for Name, Image, and Likeness? Preorder the book, Athletes Making Moves, and join the launch so you are educated on how to identify your name, image, and likeness, profit from it, and protect it.