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A popular cruise company tried to trademark the nickname for one of the biggest sports stars in the world.
What To Know: Carnival Corporation (NYSE: CCL) owns cruise lines under the brands of Carnival, P&O Cruise, Holland America Line, Princess, Costa Cruise and Aida.
Dating back to August 2019, the company attempted to trademark “King James” as the name of one of its upcoming cruise ships.
Josh Gerben shared late last week that four-time NBA champion LeBron James blocked Carnival and that Carnival has withdrawn the naming request. Carnival is barred from re-filing the trademark in the future.
Why It's Important: James blocked Carnival from using the trademark as he has used this trademark for over 10 years.
James, who has gone by that nickname for over 15 years, used the “King James” name on the back of his Los Angeles Lakers jersey earlier in the season.
ClutchPoints said James owns the trademark license over the nickname as it pertains to sports. Carnival filed to use the name for a cruise ship that also would host sports activities and events, which could have led to an easy win from James.
The move by James is important as it shows how valuable brands and nicknames are in the sports world. Several athletes have trademarked nicknames and catchphrases to capitalize on merchandise and branding going forward.
CCL Price Action: Shares of Carnival are down 57% in 2020.
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