Chinese sportswear company owns trademark on Jeremy Lin

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Linsanity, if you've been watching the news at all over the past few weeks, you’d be aware of all the fuss over New York Knicks sensation Jeremy Lin. Lin is now moving to trademark the now-ubiquitous phrase "Linsanity". But it seems like speculative entrepreneurs from California to China, may have gotten there first.

Score! Another win for the New York Knicks with star-of-the-moment, point guard Jeremy Lin.

Jeremy Lin of the New York Knicks looks on during the game against the Atlanta Hawks at Madison Square Garden on February 22, in New York City. Lin has filed to trademark the term "Linsanity" with the US Patent and Trademark Office, a move that would give the rising NBA star sole rights to use the term on products.

On the court, he's at the top of his game. But off the court, the Chinese-American overnight sensation does have something to worry about.

In the U.S., Lin has filed an application to take back the phrase "Linsanity", which was first registered by a man in California with no ties to Lin.

And in China, a sportswear company has trademarked Lin's Chinese name, Lin Shuhao, in 2010. Wuxi Risheng Sports Utility Co. paid less than 700 U.S. dollars for the name. That same name, according to Forbes, is said to be now worth around 16 million dollars.

The Chinese sports company is a pro in trade marking athletes' names. It owns the rights to Yi Jianlian, another Chinese player in NBA, and also the Chinese name for "Jordan's Kingdom".

Jeremy Lin of the New York Knicks shoots a three-pointer against the Atlanta Hawks at Madison Square Garden on February 22, in New York City.

Mr. Zhou, the manager of Risheng Sports Utility Co., said:" We applied to trademark the name Yi Jianlian in 2009, it was a good deal, although it cost us hundreds of thousand yuan."

A maker of soccer balls and basketballs, Risheng Sports applied for a trademark on Lin's Chinese name in 2010. Back then, Lin had graduated from Harvard University, but had been overlooked in the NBA draft. There was little suggestion that he would become a global sporting superstar and a darling of media and fans alike. Now, the Chinese company looks to make a fortune on the back of Lin's meteoric rise to fame.

Mr. Zhou also said:" We are considering to join hands with local companies if they can brighten up the name's future, to maximize its value."

Despite earlier offers to buy it, the company has so far decided to retain the right to use the name. Experts say Lin himself would need to get authorization from Risheng Sports if he decides to claim back his Chinese name as a trademark.