For example, an athlete can grant a company a license to use their last name on a replica jersey. 

Example Contract Language: 
a) Grant of License: The Athlete hereby grants to the Company a non-exclusive license to use the Athlete’s Name, Image, and Likeness (collectively, “NIL”), including their full name, photographs, video likeness, and jersey number, solely for the purpose of promoting the Company’s sports drink product (“Product”) in advertisements and on product packaging.

This means the athlete is giving the company permission to use their NIL to promote the company’s brand and the athlete can still make other NIL deals because the license in non-exclusive.

(b) Ownership and Control: The Athlete retains full ownership of their NIL. The Company may not alter the Athlete’s NIL (e.g., edit photos or videos) beyond basic resizing without the Athlete’s consent.

This means that the athlete continues to own their NIL, they are allowing the company to use it.

Scroll to highlighted section for example within a contract.