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Month: July 2018

Protecting Your Sports Celebrity Brand from Unauthorized Use

Protecting Your Sports Celebrity Brand from Unauthorized Use

Image rights are an asset of the sports personality with potentially large commercial value.  Therefore, it is imminent today more than ever before that sports personalities protect their image from unlicensed use by others.  As the potential for sponsorships and endorsement grows, so do the opportunities for unauthorized use and profit by third parties. The right of publicity, otherwise called personality right, refers to the individual’s right to control the use of their likeness, name and identity for commercial use. …

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What the Money Smart Athlete Should look for When Choosing a Personal Insurance Advisor and an Insurer

What the Money Smart Athlete Should look for When Choosing a Personal Insurance Advisor and an Insurer

While most people will never experience a catastrophic loss that tests the boundaries of their insurance contract, as a Money Smart Athlete you should always have a strategy in place which anticipates that shock loss you never expected; knowing that your insurance program was structured properly makes you feel secure and worry-free. Athletes have the added challenge of their fame which can bring more unusual exposures than the average person.  Everyone remembers the car accident that Venus Williams encountered which…

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Reputational risk and loss of sponsorship/endorsement contracts

Reputational risk and loss of sponsorship/endorsement contracts

Even though many people think that a professional athlete just gets paid to do what he or she likes, reality shows that this is far from the truth.  Being a professional athlete requires being dedicated to your goals and sacrificing things that other people your age would normally enjoy.  In order to become an Olympian or an NBA super star, you have to spend hours of training and hard work from the early days of your career, usually in your…

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The Specialized Insurance Needs of a Professional Athlete

The Specialized Insurance Needs of a Professional Athlete

Insurance is a very important tool, especially for professional athletes. Even if you never reach Michael Jordan’s or Kobe Bryant’s status, you need to be insured because the risks you face in your daily professional life are high.  Insurance will help you protect your health and the financial assets and wealth which you will accumulate as a professional athlete who is paid relatively well. The risks a sports professional faces are numerous; in order to avoid disastrous losses you need…

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5 Risks You May Face as An Athlete

5 Risks You May Face as An Athlete

Risk is the potential of gaining or losing something of value. It can be defined as the intentional interaction with uncertainty. Similarly, it can be described as the consequence of an action taken despite uncertainty. There are so many risks out there:  the risk of getting sick, the risk of injury, the risk of a car accident, the risk of a house fire, the risk of theft, the risk of losing your job, etc. Athletes face different types of risks…

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July 2018 Editorial: How the Money Smart Athlete Manages Risk

July 2018 Editorial: How the Money Smart Athlete Manages Risk

1 July, 2018 Athletes are facing different types of risks due to the special nature of their circumstances. It is an absolute necessity for athletes to insure themselves and their assets and thus hedge against these different types of risks. It is important for athletes to identify and manage potential risks so that they can take measures to protect themselves. As a Money Smart Athlete, you can protect yourself and your personal finances in a number of ways whether that…

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