The common definition of Intellectual Property or IP is “creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.” It’s important to note that there are different types of IPs. And in the context of basketball, components like patents, trademarks, copyrights, etc. are an integral part of the athletes’ business side of things. At a time when even high school athletes have an NIL valuation, we don’t have to tell you how interconnected sports and business are. When there’s a discussion on this topic, Michael Jordan naturally becomes a part of it. However, for Rich Paul, MJ doesn’t quite make the mark.

Or perhaps it wasn’t a name that came to him off the top of his head. Whatever the reason, you still wouldn’t be disappointed in the three he picked—LeBron James, Stephen Curry, and Kevin Durant. “Three names in basketball that I think have become businesses through the lens of value that they built through IP and partnership,” the $120 million rich sports agent said in his appearance in the Million Dollaz Worth of Game podcast.

Referring particularly to the “King,” Paul said, “You don’t even know how many people work for him!” That would be hard to track, sure, because the 39-year-old’s IP is extensive. He has trademarked his name, including phrases like “King James,” signature, and logo – crown.

As for his partnership, the most notable is, of course, the $1 billion lifetime contract with Nike, along with his personal brand. Then there’s also Uninterrupted, the media platform with the popular slogan, “More Than An Athlete,” which also has a trademark.

In addition, James‘ production company, Springhill Entertainment, as well as the ‘LeBron James Family Foundation,’ all have IPs, which contributes to the 4x champion’s billionaire status. Of course, whatever money comes under the charity foundation goes directly to the funding of the organization. But you get the idea. And all of this requires a large workforce to run successfully, as Rich Paul rightly noted.

The same goes for Curry and Durant. Take, for example, Curry’s most famous Under Armour or KD‘s Boardroom and Thirty Five Ventures. Again, these NBA legends also have trademarked their names, signatures, popular nicknames, and more. But what exactly brought Paul to this?

Rich Paul reveals the biggest “mistake” young athletes make as soon as they hit it big

Or at least they think they do. First off, what they have to understand is there are no brands. It’s the IP that “builds value and equity.” Brands are the companies that feed off of the IPs these individuals bring with them. So, essentially, an athlete who is intent on building their business should look into building IPs. However (and this is where many fail), take off, and think they are done.

“The more the average athlete thinks, ‘Oh, man! I’m killing it! I don’t need nothing,’ that’s the first mistake that they make,” the Klutch Sports CEO said. But he was quick to point out that it is a point they are unwilling to acknowledge. Why? Because they believe he is biased due to the position he is in.

Rich, ever ready with an answer, had one here as well. He used the simple example of the podcast hosts Gillie and Wallo. “Y’all went from the squat house to moving around the country. Y’all just got a camera set up … just shooting. Now what you got? How many calls you on today? It ain’t because you wasn’t successful. You didn’t go backwards. So that’s what people don’t understand about it,” Paul stated.

Well, as a man who went from selling jerseys out of his car trunk to becoming one of the most powerful sports agents, there’s no doubt that Rich Paul knows what he is talking about. But, do you agree with him? Drop your thoughts in the comments. Or you could always start a discussion here.

If you are looking for more basketball content in the meantime, do check out this crossover between BG12 and Georgia Bulldogs star Asia Avinger.