By Reagan Lindsay-Kereluik
Background
In 2021, the National Collegiate Athletic Association (NCAA), the primary governing organization of college athletics in the United States, underwent transformative changes shortly after the Supreme Court’s ruling in NCAA v. Alston.[1] In NCAA v. Alston, the U.S. Supreme Court came to the unanimous decision that the NCAA was in violation of federal antitrust laws.[2] After adopting an interim policy[3] suspending name, image and likeness (NIL) rules, both current and incoming student-athletes across the nation gained the opportunity to profit off of their own NIL. Although the NCAA has maintained a strict stance on pay-for-play and improper recruitment tactics,[4] these changes to NIL rules allowed athletes to take advantage of endorsement deals, sponsorships, and other commercial opportunities subject to state law, as well as school and conference specific regulations. Prior to these changes, NCAA student-athletes were not permitted to profit off of their likeness without violating the NCAA’s definition of ‘amateur athlete’[5] — a necessary requirement to compete in the NCAA.
In 2019 alone, before NIL activity became permissible, Division I athletics generated over $15.8 billion in revenues across 1,100 institutions.[6] More than half of these revenues were generated by men’s basketball and football.[7] Less than 20% of the $15.8 billion generated in 2019 was returned to the student athletes through scholarships, medical treatments, or insurance policies.[8] That same year, 35% of these revenues were spent on coach and administrative compensation.[9] Since the regulation change in 2021, the NIL market has grown exponentially, jumping from an estimated $917 million in 2021/2022, to nearly $1.67 billion in 2024/2025.[10] This number only shows signs of continuing growth, as the popularity of college athletics is at an all-time high in the United States and beyond. Increased media accessibility, the growing interest in women’s sports, the new expanded College Football Playoff format, and, most notably, the rise of NIL are all driving forces. Although in practice this new set of rules tends to benefit male athletes, namely those competing in football and basketball, NIL regulations, and in particular the use of trademarks, presents unique new opportunities for female athletes and women’s sports as a whole. Trademarks are useful for women looking to build their brand, and they are a disproportionately valuable tool for female athletes who traditionally have had fewer opportunities for pro-contracts and endorsements post-graduation.
Discussion
Typically, NIL deals take the form of contracts that athletes enter into with companies. Some examples include former Texas Christian University basketball player Hailey Van Lith and Adidas,[11] as well as current University of Southern California basketball player Juju Watkins and her collaboration with Celcius.[12] These student-athletes authorize these companies to make use of their NIL in exchange for financial compensation. However, these changes to NCAA amateurism policy have also opened the door to multiple intellectual property opportunities that athletes can take advantage of, including the use of trademarks. NIL rights are based on an individual athlete’s ability to exercise control over the commercialized use of their identity. In that same light, trademark law protects the specific elements through which athletes commercialize their identities, offering them enforceable legal rights against unauthorized third parties. Trademarks and NIL rights are different, but certain types of NIL, such as names, logos, and slogans that are pertinent to an individual’s identity, can be registered as a trademark.[13] By utilizing such avenues, athletes can effectively harness and sustain the legal right to their likeness. Unlike endorsement deals, such as one off social media posts or appearances, trademarks grant athletes enforceable and ongoing legal rights over their likeness. This, in turn, allows them to control and grow their personal brands, on their own terms and timeline.
Traditionally, female athletes have not had the same post-graduate playing or compensation opportunities as their male counterparts, nor have they received the same treatment or media attention whilst still competing at the college level. This makes their personal branding all the more valuable. For many female athletes, the ability to utilize their own likeness for profit often represents their first real opportunity at making a profit through their sport. This is especially true for female athletes competing in non-revenue generating sports. For example, prior to former-Louisiana State University (LSU) gymnast Livvy Dunne’s retirement in 2025, she was known as the “most followed NCAA athlete on social media,”[14] with an estimated NIL valuation of over $4 million.[15] While actively competing in the NCAA, Dunne held On3’s spot for first overall female athlete,[16]and fourth overall athlete based on NIL valuation[17] — all while competing in a non-revenue sport. Without NIL, Dunne would have had scarce opportunity to profit from gymnastics, a sport with minimal post graduate opportunities. Today, Dunne has a net worth of an estimated $6 million,[18] boasts a large social media following of over 5 million on Instagram,[19] and holds deals with Vuori,[20] Secret Deodorant,[21] American Eagle,[22] and more.
At this point in the 2025/2026 season, just two women, LSU basketball player Flau’jae Johnson and University of Miami golf commit Kai Trump, are listed in the top 100 on On3’s NIL Valuation list.[23] Despite the bleak numbers, women’s sports, particularly at the collegiate level, are at an all time high. In recent years, we have witnessed female NCAA athletes, such as Caitlin Clark, become household names[24]. The 2024 Women’s Final Four Iowa-UConn game claimed the record for ESPN’s most viewed basketball game of all time, which averaged over 14 million viewers.[25] At the professional level, the 2024/2025 National Basketball Association season saw viewership drop up to 28% on ESPN, while the Women’s National Basketball Association (WNBA) saw a 170% increase in viewership — averaging 1.9 million viewers.[26] Women’s professional sports leagues, such as the Professional Women’s Hockey League[27] (PWHL), the Northern Super League[28] (NSL), League One Volleyball Pro[29] (LOVB Pro), and the Women’s Lacrosse League[30] (WLL), have taken off, and pre-existing leagues such as the WNBA[31] have expanded. There has never been a better time to invest in women’s sports, and female athletes are uniquely positioned to take advantage of trademarks and other intellectual property rights in the current landscape, where interest in women’s sports continues to expand rapidly. Trademarks, in particular, offer a pathway for these athletes to convert their personal branding and visibility into long-lasting IP ownership, something that is especially critical for athletes competing in new professional women’s sports leagues that are also in the process of curating their brand.
As outlined by the United States Patent and Trademark Office (USPTO), a trademark constitutes any word, phrase, symbol, design, or combination of these elements used to identify and distinguish one’s goods or services.[32] Trademarks have been a longstanding component of brand recognition in sports. In the rapidly evolving landscape of collegiate athletes, namely with the decision to permit athlete compensation, trademark law has become increasingly relevant for student-athletes who seek to monetize their name, image, and likeness. Rather than wait until post-grad to build a name for themselves, athletes can begin profiting off of their likeness and curating their personal brands while still maintaining their amateur status in the NCAA — preparing them for future success in sport and in life.[33] Trademarks are not required for athletes seeking NIL deals, but owning trademarks can grant athletes unique rights.[34]
It is better for athletes to register their trademarks sooner than later, in order to ensure that they are protected.[35] By federally registering a trademark, athletes can obtain legal protection against the unauthorized use of their branding or names by third parties, and can reduce the risk of counterfeit and confusion amongst consumer fraud.[36] Under NCAA’s NIL rules, college athletes across the United States have the ability to register trademarks in order to secure their names, nicknames, logos, slogans, and even signature poses in anticipation of potential endorsements, partnerships, and merchandise sales. Take for example former University of Wisconsin quarterback Graham Mertz, who successfully filed a trademark for a logo of his initials in 2021, becoming the first college athlete to announce their trademark after the announcement of the new NCAA NIL rules.[37] However, despite the benefits and protections awarded by registering trademarks with the USPTO, many college athletes, and even young professional athletes, are yet to take advantage of such intellectual property rights.
There are various reasons for this. Although state laws exist to regulate athlete NIL activity, there’s minimal guidance available to these athletes at the national level.[38] The result has been some states providing more freedom than others.[39] This presents a unique set of problems across conferences, most of which, including the ‘power four,’ Big 12, ACC, SEC, and Big 10, span across multiple states. Schools in states with more restrictive state laws are often put at a disadvantage when it comes to recruitment, and likewise, athletes attending institutions in these states often find themselves with less opportunity.[40] Many states have begun to take action by repealing or amending laws governing NIL in order to be more favorable for such activity, but on a federal level, things have been less clear. Legislation has been introduced in both the House and the Senate,[41] including the Student Athlete Level Playing Field Act,[42] the SCORE Act,[43] and the Athlete Opportunity and Taxpayer Integrity Act.[44] However, clear federal action to regulate NIL is yet to come to fruition. Lawyers including Max Forer, partner at Miller Nash, have explained that legislation to comprehensively govern NIL would have to consider Title IX, the classification of NCAA student-athletes as employees, antitrust issues, and more.[45]
Outside of complications regarding misaligned state laws and lack of federal regulations, another issue to consider is that navigating intellectual property ownership and trademark law without formal guidance is complex. NIL is not just new for athletes, it is also new for institutions.[46] NIL policies allow monetization, but many institutions do not provide athletes with instruction on how to responsibly navigate and leverage the deeper levels of intellectual property ownership and trademark utilization. This is especially prevalent for athletes with smaller followings. As NIL continues to grow, companies serving as consultants to both student-athletes and brands looking to endorse NCAA athletes have entered the scene, but many athletes in non-revenue sports, attending smaller institutions, or who do not maintain a large online presence may be unable to afford such services. Institutions should consider implementing NIL related education programs, which many schools have already done.[47] These programs are an effective way to ensure student-athletes are encouraged to build their personal brands, but stay within the necessary state and institutional regulations.[48]
Conclusion
It is undeniable that the introduction of NIL in college sports presents challenges. But through federal level regulation, and institutional education, the opportunities for student-athletes are there. Although the big NIL numbers and news may have a strong focus on the men’s sports that generate the most revenue, it is possible that NIL can make its biggest impact in the lives of female athletes. NIL is only going to grow, and through the utilization of trademarks in tandem with endorsement and brand deals, women’s sports will have the opportunity to do the same.
[1] Nat’l Collegiate Athletic Ass’n v. Alston, 141 S. Ct. 2141, 2163-66 (2021).
[2] Tamera H. Bennett, III. NCAA V. ALSTON; NCAA Guidelines, State Laws, University Regs, State Bar of Texas, 2022 Advanced Intell. Prop. L. 11-III (2022).
[3] Michelle Brutlag Hosick, NCAA Adopts Interim Name, Image and Likeness Policy, NCAA Media Center (June. 30, 2021, 4:20 PM), https://www.ncaa.org/news/2021/6/30/ncaa-adopts-interim-name-image-and-likeness-policy.aspx.
[4] Id.
[5] NCAA Amateurism Rules and Certification, NCSA COLLEGE RECRUITING (last visited March 16, 2026)., https://www.ncsasports.org/ncaa-eligibility-center/amateurism-rules.
[6] Andrew Zimbalist, Analysis: Who is winning in the high-revenue world of college sports?, PBS NEWS (Mar. 18, 2023, 7:14 PM), https://www.pbs.org/newshour/economy/analysis-who-is-winning-in-the-high-revenue-world-of-college-sports.
[7] Id.
[8] Id.
[9] Id.
[10] Robinson v. Nat’l Collegiate Athletic Ass’n, 803 F. Supp. 3d 481, 488 (N.D.W. Va. 2025)
[11] Adidas Partners With Hailey Van Lith to Inspire Student-Athletes on Overcoming Pressure, Shares Update on Historic NIL Ambassador Network, ADIDAS NEWS (Mar. 18, 2024) https://news.adidas.com/basketball/adidas-partners-with-hailey-van-lith-to-inspire-student-athletes-on-overcoming-pressure–shares-upda/s/0906d532-5423-46d3-809f-bd1a975a4ce9.
[12] Aman Sharma, $200,000 NIL-valued Juju Watkins promotes partnership with $12.92 billion worth Celsius energy drinks – “tapping in”, SPORTSKEEDA (Feb. 7, 2024, 20:04), https://www.sportskeeda.com/college-basketball/news-200-000-nil-valued-juju-watkins-promotes-partnership-12-92-billion-worth-celsius-energy-drinks-tapping-in.
[13] U.S. Pat. and Trademark Off., NIL Basics: What Every Student Athlete Should Know 1—2 (last visited March 16, 2026).
[14] Livvy Dunne, ON3, (April. 14, 2025), https://www.on3.com/rivals/livvy-dunne-162353/.
[15] Id.
[16] Id.
[17] Id.
[18] Olivia Dunne’s Net Worth in 2026 Is Already Flippin’ Stellar, PARADE (Jan. 2, 2026, 1:18 PM), https://parade.com/celebrities/olivia-dunne-net-worth.
[19] Supra note 14.
[20] Jenna Lemoncelli, Livvy Dunne is Cashing in on One of Her Most Embarrassing Moments, NEW YORK POST (Oct. 31, 2025, 9:45 AM), https://nypost.com/2025/10/31/sports/livvy-dunne-is-cashing-in-on-one-of-her-most-embarrassing-moments/.
[21] Renan Botelho, Gymnast Livvy Dunne Models New Vuori Collection as NIL Ambassador, Photos, WOMEN’S WEAR DAILY (Mar. 22, 2024, 3:17 PM), https://wwd.com/fashion-news/activewear/gallery/livvy-dunne-vuori-nil-athletes-photos-1236274241/.
[22] Griffin Uribe Brown, How American Eagle is Winning with NIL, THE ATHLETE’S BUREAU (Jan. 8, 2024), https://www.athletesbureau.com/p/how-american-eagle-is-winning-with.
[23] On3 NIL Valuations, ON3 (Feb. 1, 2026), https://www.on3.com/nil/rankings/player/nil-valuations/.
[24] Corbin McGuire, The Caitlin Clark Effect, NCAA (Feb. 15, 2024, 8:03 PM), https://www.ncaa.org/news/2024/2/15/media-center-the-caitlin-clark-effect.aspx.
[25] The Associated Press, Iowa-UConn Women’s Final Four Game is the Most-Watched Hoops Game in ESPN History, NATIONAL PUBLIC RADIO (April. 6, 2024, 8:39 PM), https://www.npr.org/2024/04/06/1243281647/iowa-uconn-womens-final-four-espn-history.
[26] David Deal, The WNBA Is Ascending. The NBA Is Not.,MEDIUM (Dec. 11, 2024), https://davidjdeal.medium.com/the-wnba-is-ascending-the-nba-is-not-d612070b0857.
[27] Kristen Nelson, The PWHL Has Found a Winning Formula for Women’s Hockey, SPORTS ILLUSTRATED (Nov. 20, 2025), https://www.si.com/nhl/pwhl-has-found-winning-formula-for-womens-hockey.
[28] Sophie Downey, ‘Exactly where we wanted to be’: Canada hails NSL after inaugural season’s glittering finish, THE GUARDIAN (Nov. 18, 2025), https://www.theguardian.com/football/2025/nov/18/canada-hails-nsl-after-inaugural-seasons-glittering-finish-football.
[29] Alex Sherman & Contessa Brewer, CNBC Sport: LOVB pro volleyball’s quest to be the next breakthrough sport, CNBC (Nov. 20, 2025, 10:00 AM), https://www.cnbc.com/2025/11/20/cnbc-sport-lovb-pro-volleyball-next-breakthrough-sport.html.
[30] USA Lacrosse Magazine Staff, Women’s Lacrosse League Expands to Full Season Schedule with Playoffs, USA LACROSSE MAGAZINE (Sept. 10, 2025), https://www.usalacrosse.com/magazine/professional/wll/womens-lacrosse-league-expands-full-season-schedule-playoffs.
[31] Sabreena Merchant, What’s next for the WNBA after reaching a historic CBA deal?, THE ATHLETIC (Mar. 18, 2026), https://www.nytimes.com/athletic/7126514/2026/03/18/whats-next-wnba-cba-deal/.
[32] What is a trademark?, USPTO (last visited March 16, 2026), https://www.uspto.gov/trademarks/basics/what-trademark.
[33] Bruce Siegal, College Athlete NIL: Guarding the Brand, An IP Perspective, GREENSPOON MARDER LLP SPORTS LAW AND NIL BLOG (April. 17, 2023), https://www.gmlaw.com/news/college-athlete-nil-guarding-the-brand-an-ip-perspective/.
[34] Id.
[35] Id.
[36] Supra note 27.
[37] Josh Keatley, Wisconsin QB Graham Mertz Gets Own Trademarked Logo, Only Matter of Time for OSU Athletes? BUCKEYESWIRE (June. 29, 2021, 6:41 PM), https://buckeyeswire.usatoday.com/story/sports/college/buckeyes/football/2021/06/29/wisconsin-qb-graham-mertz-gets-own-trademarked-logo-only-matter-of-time-for-osu-athletes/78151847007/.
[38] Josh Moody, The Current State of NIL, INSIDE HIGHER ED (June. 7, 2023), https://www.insidehighered.com/news/students/athletics/2023/06/07/two-years-nil-fueling-chaos-college-athletics.
[39] Id.
[40] Id.
[41] Id.
[42] Student Athlete Level Playing Field Act, H.R.8382, 116th Cong. (2019), https://www.congress.gov/bill/116th-congress/house-bill/8382?q=%7B%22search%22%3A%22Student+Athlete+Level+Playing+Field+Act%22%7D&s=1&r=1(on file with author).
[43], Student Compensation and Opportunity through Rights and Endorsements Act, H.R.4312 119th Cong. (2025), https://www.congress.gov/bill/119th-congress/house-bill/4312/text (on file with author).
[44] Athlete Opportunity and Taxpayer Integrity Act, S.1454, 118th Cong. (2023), https://www.congress.gov/bill/118th-congress/senate-bill/1454?q=%7B%22search%22%3A%22Athlete+Opportunity+and+Taxpayer+Integrity+Act%22%7D&s=4&r=1(on file with author).
[45] Supra note 33.
[46] LaKeisha Marsh, LEAD1 Ass’n, What You Need to Know About Brand Protection in NIL Deals 6—7 (July-August. 2023).
[47] Id.
[48] Id.