Photo courtesy of nesn.com
Last week I wrote about how the Woodstock Festival music bands were not business minded. This post is to show you how you protect your financial interests and brand legally via Michael Jordan
. Economic Policy Journal ran a piece showing how the NBA superstar safeguards from people using his image.
A jury on Tuesday heard from the retired basketball superstar in a case about how much a shuttered grocery-store chain owes him for a 2009 advertisement featuring his name and team number. In the magazine ad, Dominick’s stores congratulated Mr. Jordan on his Hall of Fame induction featuring the slogan “You are a cut above” and a $2 coupon for steak.
Mr. Jordan testified he doesn’t do single ads and wouldn’t have given Dominick’s the rights to use his image. He also made it clear that the Jordan brand doesn’t come cheap.
“I didn’t do deals for anything less than $10 million,” Mr. Jordan said…
Want to know how much he has gotten in the past?
Mr. Jordan’s lawyer Fred Sperling likened the value of the former NBA star’s image to that of the Hope Diamond, detailing in his opening statement last week the staggering amounts that companies paid to the superstar’s for his likeness. Nike Inc. shelled out $480 million from 2000 to 2012, while Hanes, Upper Deck and Gatorade have all paid sums between $14 million and $18 million…
Hoosier Econ 