How Indiana is Looking Within for NIL Support

With the installation of Name, Image, and Likeness policies, many student-athletes have been eager to jump into deals with various brands. However, being young adults, these student-athletes have not had a great deal of experience in making sound financial decisions. When surveyed, over 70% of student-athletes have expressed an interest in becoming financially literate, as financial literacy is a huge aspect of creating these brand deals. If a person is not aware of what to look at within a brand contract, they may overlook some serious details that can cause them to be in situations with companies that they do not want to be in. Additionally, it has been stated that Generation Z athletes’ overconfidence increases their internal locus of control and has been linked to risky financial behaviors.

How can universities help protect their student-athletes from making these risky financial decisions? Some Indiana universities have just announced that they are offering legal support for their student-athletes who are taking part in name, image, and likeness deals. However, this is not just any normal third-party legal support. These Indiana universities, such as Indiana University Bloomington are utilizing law students and professors to aid their athletes.

How does this work? According to Mark Janis, Maurer School of Law professor and director of the Center for Intellectual Property Research, “[the] goal is to serve students who are negotiating NIL deals that might involve significant rights of the student but aren’t likely to generate enough revenue to justify hiring expensive specialized legal counsel.” Having law school students and professors aid student-athletes offers an alternative without a lawyer fee that also serves as a way to provide law students with real-world experience that is unique.

Available to more than 700 student-athletes at Indiana University, this initiative will allow student-athletes to get needed legal representation and also allow Maurer School of Law students (working under the guidance of adjunct faculty at the law school) to develop and hone important skills while working with peers. They will run the Intellectual Property Clinic like a law firm, with experienced lawyers overseeing upper-level law students who are studying to practice in intellectual property law or related fields that would be relevant to NIL deals.

Why is this a big deal? The implications of this demonstrate that NIL does not only impact athletes and the brands, but can impact many more people than one would initially think. Using in-house law students and professors can open doors for additional universities using resources within the institutions to navigate the murky NIL waters, and surely the collegiate sport world will demonstrate this more.

To learn more about NIL support, check out the CleanKonnect NIL Certification Course.