A Deeper Look Of NASCAR
NASCAR team properties in the year 2010 took a significant step forward in stock car Auto Racing and various NASCAR race team in uniting their respective licensing under single centralized framework. It was made to revolutionize the licensing car model to accomplish three main goals; to create an centralized and efficient model for servicing and licensing the required item in times of sport, to add value and improve the quality, prices selections, and channels of liberalized souvenirs and merchandise available to the fan and to achieve competitive benefits of inviting investments into the sport.
The NASCAR industry is a network of rights holders and participants of the governing body. It oversees all aspects of administration, operation, management, marketing, and competition and sports regulations and in addition manages the transmit rights and officials NASCAR sponsorship entitlement. The race teams are separately owned entities where trucks and field race cars carry out a competition against each other on sanctioned race tracks. The sanctioned race tracks are owned by a third party promoter. Price monies are awarded to perticipantes from NASCAR broadcast revenue, tracks, promoters and contingency sponsorship of race car, haulers, uniforms and other inventory assets.
Each team hires a driver following the driver agreement to drive the team’s race car for one or more faces or seasons. Car and equipment manufactures license separately their marks respectively for certain kinds of licensed products.
Licensing enables supporters to show faithfulness to their teams, drivers and sponsors brands. It supports the investment of corporate sponsors through the sport of NASCAR.
It operates similar to limited liability Company in as much as it is maintained by an elected board. The trust has recipients and issues the certificate of beneficial interest to the appropriate beneficiaries operate the trust.
This organization is flexible with their beneficiaries because they know that only their beneficiaries can keep them on the track to operate the trust.
In order to afford flexibility, the NASCAR trust formed individual series trust to manage these distinct series trust, Die cast series Trust series. The purpose of each NASCAR series is to administer, manage licensing opportunism and identify, relevant to NASCAR series trust purpose. One of the primary benefits of Trust is to simplify behind the scene the multi benefit network of rights, togetherness, approvals, royalties.
Apart from having many benefits and ease of administration, the administration remains complicated.