NIL Monitoring by Gray Analytics Helpful Definitions

NIL Monitoring by Gray Analytics Helpful Definitions*

I. Agent

An agent is any individual who, directly or indirectly represents or attempts to represent an individual for the purpose of marketing his or her athletics ability or reputation for financial gain; or seeks to obtain any type of financial gain or benefit from securing a prospective student-athlete’s enrollment at an educational institution or from a student-athlete’s potential earnings as a professional athlete. An agent may include, but is not limited to, a certified contract advisor, financial advisor, marketing representative, brand manager or anyone who is employed or associated with such persons.

II. Compensation

Compensation is the receipt of funds, awards, or benefits. This includes discounts, debt forgiveness, or any service that is provided free of charge in exchange for some performance.

III. Family Member

A family member is an individual with any of the following relationships to the prospective student-athlete: spouse, parent or legal guardian, child, sibling, grandparent, domestic partner, or any individual whose close association with the prospective student-athlete is the practical equivalent of a family relationship.

IV. Individual

An individual is any student-athlete or prospective student-athlete.

V. Intellectual Property

Intellectual Property is defined as the ownership of an idea or design by the person who came up with it. It is a term used in property law. It gives a company or person certain exclusive rights to a distinct type of creative design, meaning that nobody else can copy or reuse that creation without the owner’s permission.  It is often, but not always, associated with these symbols: ™ ® ©.

VI. NIL Contractor

An NIL Contractor is any business, organization, agency, vendor, company, individual, or other third party engaged in NIL activities.

VII. NIL Opportunity or Activity

NIL Opportunity or Activity means any contractual arrangement or activity with an individual that involves the use of an individual’s name, image, and likeness for commercial or promotional purposes.

VIII. Pay or Paid

Pay or Paid is the receipt of funds, awards, or benefits. This includes discounts, debt forgiveness, or any service that is provided free of charge in exchange for some performance.

IX. Professional Athletics Team

A professional team is any organized team that provides any of its players more than actual and necessary expenses for participation on the team, except as otherwise permitted by NCAA legislation. Actual and necessary expenses are limited to the items listed in Bylaw 12.02.2 of the NCAA Manual, provided the value of these items is commensurate with the fair market value in the locality of the player(s) and is not excessive in nature; or declares itself to be professional.

X. Professional Service Provider

A professional service provider is an individual who provides third-party services to a prospective or current student-athlete. It includes, but is not limited to, an agent, tax advisor, marketing consultant, attorney, brand management company or anyone who is employed or associated with such persons.

XI. Sporting Goods

Sporting goods are any item used in playing sports, whether required or not.  This includes shirts, footwear, sweatbands, eye-black, gloves, socks, or any gear worn under or in addition to a uniform.

XII. Tax

A tax is defined by the Internal Revenue Service as Required payments of money to governments that are used to provide public goods and services for the benefit of the community as a whole.  Please contact tax professionals to see if any local, state, or federal tax applies to any NIL opportunity.

* Please note: These definitions are general definitions for the use of this service. Please consult state and federal laws, or counsel, for additional legal definitions.

How to contact NIL Monitoring by Gray Analytics with questions

You may contact us by phone or by mail at:

Gray Analytics

ATTN: NIL Monitoring by Gray Analytics

4240 Balmoral Drive, Suite 300

Huntsville, Alabama 35801

(256) 384-4729

www.GrayAnalytics.com