The scope of intellectual property rights include patents, trademarks, designs, copyright, and related rights. Before we get into the various aspects of intellectual property, it is important we know the players in the sports industry.
A. PLAYERS IN THE SPORTS INDUSTRY
Broadly speaking, the players in the sports industry include;
- Organizers of sports events, tournaments, and competitions with an interest to showcase a high-quality event aimed at attracting top-level athletes, large crowds, and audiences.
- Athletes, teams, and trainers.
- Manufacturers of sports equipment.
- Broadcasters and other media platforms.
- Corporate sponsors.
- Sports fans.
- Sports federations.
B. WHY INTELLECTUAL PROPERTY IN SPORTS?
The sports industry has witnessed an influx of innovation and creativity. As such, the product of such invention and creativity are used by players in the industry and must be protected.
The different types of intellectual property come with different rights to be protected. Inventions (Patent), Brands (Trademark), Design (Industrial design rights), Creative works such as sports programs and other Sports related creative activities, and sports broadcast programs (copyright) all need to be protected.
Intellectual property rights allow holders to stop other people from copying or using their intellectual property without their permission. This means certain that the holders of such rights are able to charge a price for use of their intellectual property.
C. PATENTS AND INVENTIONS
Patent according to intellectual property law means a title granted for the protection of an invention.
A patentable invention is an invention that is new, which involves an inventive step, and is industrially applicable. The invention may consist of or relate to a product, a process, or to use thereof.
D. BRANDS AND TRADEMARK
A trademark is a sign that is capable of distinguishing the goods and services of one entity from those of another. Trademarks are powerful marketing tools. They are at the center of sports sponsorship deals as companies turn to sports to build awareness of their products among consumers, drive sales and stand out in a crowded and highly competitive market.
E. COPYRIGHT AND BROADCASTING
The coverage of events helps to engage fans worldwide and attract sponsors. Broadcasters play a great role in this aspect for sports organizations. The relationship that exists between sports, media, and television is at the center when it concerns copyright and related rights.
The sale of broadcasting media rights has been on the rise in both value and demand. This has become a major source of revenue for most sports organizations in the world. These funds are usually used to offset the expenditure of financing sports events, grass root development contributions,s, etc.
F. DESIGN
The design makes a product and a sporting event more attractive and appealing to consumers and plays a critical role in adding commercial value and making the product or the event more attractive with high market value.
Businesses/companies can protect the investment they make in coming up with new, attractive designs by obtaining patents or industrial design rights.