Despite NIL approval for Michigan high schoolers, businesses seeing early investment risks

As sisters Zoey and Lydia Heyn sat at a family dinner, a breaking news alert lit up their phones: Michigan had approved expanded Name, Image and Likeness (NIL) opportunities for high school athletes.

Zoey – co-founder of Zo’s Mini Donuts – and Lydia had never done any sort of paid endorsement, but the sisters emphatically stated this was the right chance to get started.