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NIL Network

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NIL VERIFIED™

Learn about the first-to-market NIL business standard.

OVERVIEW OF NIL VERIFIED™ AND THE NIL VERIFIED NETWORK

As student-athletes navigate the NIL landscape, it has become increasingly important for them to be able to differentiate between trustworthy service providers and those that seek to exploit the lack of regulation in the field.

NIL Verified™ is the first-to-market NIL service provider verification process. Developed with the expertise of former Power 5 compliance director and current Freeman┃Lovell partner Patrick Stubblefield, NIL Verified™ aggregates information about a business’ registration, employees, business practices, and compliance with NIL laws, NCAA interim policies, and institutional policies. Additionally, it includes a review of the company’s terms to ensure they include all of the expected clauses and fair language for college athletes.

Businesses that sufficiently fulfill the requirements of NIL Verified™ become members of the NIL Verified Network, which is comprised of fair and transparent service providers that athletes can feel confident utilizing to help them navigate NIL.

DEFINING AN "NIL SERVICE PROVIDER"

NIL Verified and the NIL Verified Network are for businesses that are part of the nascent NIL Industry and provide services to help athletes in monetizing their NIL. Companies that are listed in the Athlete Service Provider Directory, B2B Service Provider Directory, and Collectives Database are eligible.

NIL VERIFIED REQUIREMENTS

The NIL Verified requirements vary based on the sub-industry, type of terms reviewed, and specific aspects of the company's business model.  Additionally, we are continuously reviewing our requirements to respond to emerging issues, industry standards, and continued feedback from members of the NIL Verified Network.

However, below is a non-exhaustive list of some of the requirements we look for as part of NIL Verified.

BUSINESS PRACTICES

  • • Company is Registered and in Good Standing
  • • Website Adheres to NCAA Policy and State NIL Laws
  • • Review of Outsourced Business, Political Donations, and Employees and/or Shareholder Affiliations with University and/or Government Official(s)
  • • Ensure no Employees and/or Shareholders on Global Watch Lists
  • • Review States of Operation to Determine what NIL State Laws the Business Must Adhere to

STANDARD CONTRACTS

Examples:

  • Marketing Agreement
  • Agent Agreement
  • Influencer Agreement

  • • Obligated to Abide by State NIL Laws, NCAA Rules, and Institutional/Conference Policies
  • • Payment Terms Clearly Defined
  • • Includes Indemnification Rights for the Client
  • • Appropriate Scope of Licensed Rights, Termination Provisions, and Morals Clause

 

  • IF APPLICABLE: Includes Standard Representations and Warranties, Includes Obligation to Maintain All Required Licenses, Provides Client with Audit Rights

PLATFORM TERMS

Examples:

  • Terms of Use
  • Terms & Conditions
  • Terms of Service

  • • Dated and Addresses Differing Versions
  • • Appropriate Limitation of Liability
  • • Includes Copyright and Trademark Infringement Processes
  • • Includes Opt Out Provisions for Personal Information

 

  • IF APPLICABLE: Payment Terms Clearly Defined, Appropriate Termination Provisions & Morals Clause, Appropriate Grant of Athlete’s NIL Rights

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JOIN THE NIL VERIFIED NETWORK

Get access to customized strategy sessions, marketing support, NIL Verified certification, content assets, publication opportunities, and more!
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