Athlete Licensing Company Launches New CONIC™ NIL App for Student-Athletes
Next Generation App Helps Student-Athletes Better Manage and Protect Their Name, Image and Likeness / Intellectual Property Rights
Nashville, TN [June 10, 2024] — Athlete Licensing Company (ALC), an NIL rights management company that delivers strategic NIL services and technology to universities, student-athletes and licensees, today announced it has launched an enhanced student-athlete app to simplify the management of NIL. CONIC, an invitation-only app, gives student-athletes an agnostic, single platform for all their NIL/IP rights activities, including contract review and complex accounts receivable and payable disbursements.
CONIC helps student-athletes protect, control and optimize one of their most valuable assets – their NIL/IP rights – all in one place. The proprietary app seamlessly integrates with ALC’s technology platform, which is utilized by university athletic departments, collectives and licensees, to manage the complete range of operations and program tasks associated with NIL/IP rights, sponsorships, endorsements and product sales, including sponsorship facilitation, payments, reporting and compliance. More than a marketplace or collective management system, ALC is the only agnostic NIL/IP rights administrator that puts the athletes at the center by providing one administrative deal funnel, delivered through CONIC, for all the student-athlete’s NIL business.
The foundation of ALC’s technology is a highly structured methodology developed by experts with 30+ years of experience in the music, film and influencer industry. This methodology is designed to protect the IP of all parties, while ensuring compliance from both a governance and accounting perspective. This model is key for a simple, yet robust system to align a university with its hundreds of individual athletes in an increasingly complex NIL environment.
“CONIC is the only truly agnostic app for athletes to manage ALL their NIL business, whether the deals are generated from a collective, directly through a brand, or other source,” says Bryan Risner, ALC’s Vice President of Strategic Partnerships. “CONIC empowers student-athletes to maximize opportunities and make smart decisions about their NIL rights while also helping to ensure universities are capturing the appropriate disbursements for use of their IP.”
CONIC allows student-athletes to accept, track and report NIL opportunities; analyze contracts; get paid quickly and correctly; and manage funds, allocate for taxes and receive a consolidated royalty statement and 1099. The CONIC app also features alerts and reminders for deal tasks and compliance. Those features were recently refined into version 2.0 via the CONIC app. The CONIC app is based on direct feedback from the student-athletes of Division I athletic programs across the country. The newest features include streamlined connections for LLCs and capabilities for athletes under 18 years old; comprehensive transaction history and tracking of total earnings; and enhanced royalty-splitting capabilities. Additional features are scheduled to be released in the coming weeks.
ALC’s founders are 30+ year legal and accounting veterans in the music, entertainment and influencer industries that have dealt with complicated IP rights management issues and payments at all levels. For decades, the ALC team has focused on building, distributing, valuing and auditing revenue streams of some of the most successful artists and brands in the world. The company added experienced NCAA/NIL legal experts, a former D1 coach and athletic director, a fintech expert, and an athletic department administrator/fundraiser to its team to help apply that infrastructure to the collegiate NIL world. Today, ALC helps university athletic departments analyze their NIL ecosystems and develop strategies for sustainable success. ALC works with programs in the largest, most competitive athletic conferences.
The ALC platform, together with the CONIC app, can handle highly complex payment models in a transparent manner to ensure student-athletes are informed and protected. Built for the future, ALC’s platform allows athletic departments to process, track and distribute multiple revenue streams, including micro-distributions on licensing and digital or multi-media rights management. The system also allows the student-athlete to fulfill any necessary obligation to pay multiple third-party IP participants which include copyright owners, group licensing companies, logo or brand owners, and agents, as well as to allocate for taxes or other expenses.
“To fully optimize their NIL/IP rights, student-athletes need to think beyond social media posts and jersey sales,” says Risner. “We help student-athletes understand and capitalize on royalty splits, group licensing and other complex licensing deals. CONIC helps simplify and maximize NIL for student-athletes.”
About Athlete Licensing Company
Athlete Licensing Company (ALC) is an NIL rights management company that delivers strategic NIL services and technology to universities, student-athletes and licensees. ALC’s services empower its clients to build strong, sustainable NIL programs. The company puts student-athletes at the center of the ecosystem by providing CONIC, an app enabling them to optimize and manage their NIL and IP rights opportunities. The company also offers software-as-a-service products that allow for efficient, transparent sponsorship facilitation, payment enablement, reporting and compliance oversight. ALC boasts a wealth of experience in intellectual property management, NCAA/NIL state and school compliance, fundraising, legal, accounting and tax guidance. For more information, visit www.athlete-licensing.com.
Media Contact
Nikki Cary
Athlete Licensing Company
615.500.2924
