ABSTRACT
Intellectual property rights are the cornerstone for any sport organization to establish effective branding strategies and to begin implementing effective marketing strategies. The term intellectual property is commonly used to refer to rights associated with patents, copyrights, trademarks, trade secrets, and trade dress. One goal of intellectual property law is to create and maintain an open and competitive marketplace. The various intellectual property laws both complement and challenge each other. For example, creators of original materials need to be rewarded for their creation and permitted to profit from their creativity. Creators of original works are granted an exclusive right to use and control the use of their works. However, a robust marketplace also needs vibrant competition and access to creative ideas. Thus, the duration or scope of the right is limited so that at some point the marketplace can gain free and continuing access to the invention, image, idea, or word. Intellectual property law is intended to provide a compromise between these competing goals so that a delicate balance is maintained.
