On July 1, 2021, the Texas Education Code was updated allowing student-athletes to receive compensation for their name, image, and likeness (NIL). That means that student-athletes can now generate income for things like appearing in commercials, sponsoring or promoting products, or cultivating relationships with corporate entities as brand ambassadors or influencers. Even so-called nano-influencers (those with approximately 10,000 followers) can secure lucrative deals at an extraordinarily young age. Athletes and entertainers alike must be aware of the risks involved in signing NIL contracts. RTC Law has worked with some of Texas' brightest and most talented up-and-coming athletes, artists and entertainers to assist them in negotiating in and out of NIL contracts and can do the same for you or your minor child.
NIL Contract Drafting
When it comes to NIL Contracts there is no one-size-fits-all. In addition to the variability arising from the sophistication of the endorsing entity, each educational institution requires certain disclosures and limitations for athletes and artists. RTC Law has access to updated contract terms in the NIL space and can ensure that your agreement manages risk while creating leverage to maximize your remuneration.
NIL Contract Review
Have you received an offer from a local or national business asking you to endorse their product or to participate in a marketing event or advertisement? Perhaps you already received a NIL contract and aren't aware of the risks that might arise from poorly written agreements, or how to terminate the NIL relationship if more lucrative offers are presented. RTC Law can review your agreement and explain your options in terms that you will understand.
NIL Contract Negotiations
The NIL Contract is drafted and the important aspects such as requirements, payment, duration, limitations, and termination have been settled. Often times, however, an offer is on the table and the terms are understood, but there are still a few points of contention that need to be sorted out. RTC Law can carry your contract across the finish line, ensuring throughout the process that your needs are met and that the relationship is primed for repetition.