NIL Transaction Management System for College Athletes

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Solution Overview

Problem

College athletes face challenges in efficiently reporting and managing Name, Image, and Likeness (NIL) transactions without diverting time from their athletic and academic pursuits, due to complex and time-consuming reporting processes.

Innovation Solution

A method and system utilizing a relational database to associate NIL identifiers with user transactions, allowing users to affiliate NIL identifiers with transactions through a user interface, enabling college athletes to receive financial benefits and users to receive NIL benefits such as digital images, communications, or discounts, while tracking transactions and benefits in real-time or near real-time.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If college athletes manually report and manage NIL transactions through traditional processes, then comprehensive tracking and reporting can be achieved, but it requires significant time and administrative effort that diverts from athletic and academic pursuits

Engineering Contradiction:

ImproveNIL transaction reporting accuracyVSAvoidtime for reporting and managing NIL transactions

Core Design Contradiction:

ReliabilityVSLoss of time

Solution Approach 1:

The system enables automated self-service reporting where NIL transactions are automatically tracked and reported through the platform without requiring manual athlete intervention. The automated system handles transaction recording, compliance checking, and reporting generation, allowing athletes to maintain accurate NIL records while focusing on their primary commitments.

Inventive Principle:

Principle #25Self-service

Solution Approach 2:

The NIL management platform serves as an intermediary between users, athletes, and reporting authorities. It automatically captures transaction data, performs compliance verification, and generates required reports, eliminating the need for athletes to manually manage the complex reporting process while ensuring accurate and compliant NIL transaction tracking.

Inventive Principle:

Principle #24Intermediary (Mediator)

2Reliability

If a comprehensive NIL management system is implemented to track all transactions and benefits, then proper compliance and reporting can be ensured, but the system complexity and administrative burden increase

Engineering Contradiction:

ImproveNIL transaction complianceVSAvoidsystem complexity for tracking and reporting

Core Design Contradiction:

ReliabilityVSDevice complexity

Solution Approach 1:

The NIL management platform provides multi-functional capabilities including transaction tracking, compliance verification, benefit distribution, and automated reporting within a single integrated system. This universal approach consolidates multiple administrative functions into one platform, reducing overall system complexity while maintaining comprehensive compliance oversight.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Solution Approach 2:

The system incorporates automated feedback mechanisms that provide real-time compliance status updates to athletes and administrators. The platform automatically monitors transactions against compliance rules, provides instant notifications of compliance issues, and adjusts reporting requirements based on transaction patterns, simplifying the compliance management process through intelligent feedback loops.

Inventive Principle:

Principle #23Feedback

3Productivity

If automated systems are used to track NIL transactions in real-time, then reporting efficiency improves, but implementation and maintenance costs increase

Engineering Contradiction:

ImproveNIL transaction reporting efficiencyVSAvoidresources required for system implementation

Core Design Contradiction:

ProductivityVSQuantity of substance

Solution Approach 1:

The system merges NIL transaction tracking with existing user platforms and payment processing systems, consolidating multiple functions into a unified workflow. By integrating NIL management capabilities into familiar digital environments, the system achieves automated real-time tracking without requiring separate complex infrastructure, reducing implementation and maintenance costs while improving reporting efficiency.

Inventive Principle:

Principle #5Merging (Combining)

Data Source

PatentUS20230325924A1Methods and systems for providing a user with a proprietary asset corresponding to a name, image and likeness (NIL) of a college athlete

Publication Date: 2023.10.12 MALK HLDG LLC

AI summary

Methods and systems for providing a user with a proprietary asset corresponding to a name, image or likeness (NIL) of a college athlete, can involve allowing a user through a user interface to choose to affiliate an NIL identifier(s) in a relational database with a user transaction, wherein the user transaction is associated through the relational database to the NIL identifier(s) so that a college athlete(s) respectively associated with the NIL identifier(s) can receive a financial benefit from the user transaction. As a result of the user transaction, the user can be permitted to receive an NIL benefit from the college athlete(s), the NIL benefit including, for example, a non-fungible token image of the college athlete(s), a digital image of the college athlete(s), a likeness of the college athlete(s), a communication from or on behalf of the college athlete(s), and so on.