Dwayne “The Rock” Johnson now officially owns the rights to his iconic wrestling persona, according to the WWE 2023 Earnings release. The announcement showed the transfer of intellectual property from WWE to Johnson’s affiliates.
Per an IP Assignment Agreement (via PWInsider), WWE assigned ‘The Rock’ trademark along with associated trademarks, service marks, ring names, taglines, and other related intellectual property assets to Johnson’s affiliates.
A search of the US Patent & Trademark Office database shows marks such as ‘The Rock’ are now owned by a Florida-based entity called DJIP, LLC.
According to a new SEC filing, Johnson’s new IP includes the following nicknames and catchphrases:
Names:
- The Rock
- Rocky Maivia
- Team Corporate
- Rock Nation
- The Nation
- Roody Poo
- Candy Ass
- Jabroni
- The Samoan Sensation
- The Blue Chipper
- The Brahma Bull
- The People’s Champion
- The Great One
- The Most Electrifying Man in Sports and Entertainment
Catchphrases:
- If you smell what The Rock is cooking
- Know Your Role and Shut Your Mouth
- Team Bring It
- Just Bring It
- The People’s Elbow
- Rock Bottom
- Finally, The Rock has come back to …
- It doesn’t matter what…
- Blue Hell
- The millions… (and millions)
- Rockpocalypse
- Project Rock
- The most electrifying man in sports and entertainment
Additionally, WWE entered into an Independent Services Contractor and Merchandising Agreement with Johnson and his affiliates, wherein Johnson agreed to provide promotional services to WWE.
Under the terms of the agreement, Johnson will license the assigned IP and his name and likeness to WWE for use in certain licensed products related to professional wrestling for up to 10 years. In exchange for his services and the IP licenses, Johnson received restricted stock units worth $30,000,007 in Class A common stock.
The Johnson Equity Award will vest in stages: 25% immediately, 25% upon completion of specified services, 25% by December 31, 2024, and the remainder in equal monthly installments from January 31, 2025, to December 31, 2025.
Cashing in on his brands
Prior to this agreement, Johnson received annual royalties from WWE for his appearances in WWE-produced content, merchandise, and services, totaling approximately $491,000 for the year ended December 31, 2023.
Following the agreement, Johnson will continue to receive annual royalties from WWE and will also earn royalties from licensed products utilizing the assigned IP and his intellectual property rights, as outlined in the Johnson Services Agreement.
This comes after Johnson was appointed to TKO Group Holdings Board of Directors in January. He said at the time:
“My grandfather, High Chief Peter Maivia, and my dad, Rocky ‘Soulman’ Johnson, would’ve never thought this day would come. Which is why I’m very humbled to have a seat at the table that has decades of history and family legacy for me. A table that my family helped to build. Being on the TKO Board of Directors, and taking full ownership of my name, ‘The Rock’, is not only unprecedented, but incredibly inspiring as my crazy life is coming full circle.”
