NEW YORK, N.Y. -- Tiger and Venus. No last names needed.

	Venus Williams laughs at a reporter's question after announcing that she has signed a multiyear contract with Reebok International Ltd.

It's no coincidence that the names of the biggest male and female athlete endorsers don't commonly appear in baby-name books. And don't think that companies like Reebok and Nike -- who signed Venus Williams and Tiger Woods, respectively, to record athlete endorsement contracts -- didn't consider the value of their name as brands when asking them to sign the dotted line.

"When you were referring to Jack Nicklaus, you never just said 'Jack,' and you never just said 'Arnold' for Arnold Palmer," said Dean Bonham, chairman of The Bonham Group, a sports consultancy firm. "You might get away with saying Michael when you were referring to Jordan."

Yes, there's no doubt that catchy names, whether given at birth or earned as nicknames, help make some of the best brands in sports -- Tiger, Venus, Shaq, A-Rod and Penny included. Not only are these athletes recognized because they are some of the best in the game but also because they appeal to the masses. The majority of society knows exactly who they are at first mention of their nickname. That alone is worth some dough.

"I guess I have to thank my mom for that," said Williams, who signed the richest endorsement deal for a female athlete on Thursday, a five-year contract with Reebok believed to be worth as much as $40 million.

"If Tiger and Venus' names were Jack and Diane, that would be one thing," said Rick Burton, director of the Warsaw Sports Marketing Center at the University of Oregon. "But here you have a guy whose name is an animal and one girl whose name is a planet. There's definitely a good deal of value in that because they become one-word people, like Madonna or Sting."

When Williams first emerged into the international spotlight, her attorney Keven Davis realized the power of the name. "We tried to get 'Venus' trademarked, and we couldn't do it at that time, but we think that eventually we will be able to trademark it as having a secondary meaning related to her," Davis said.

	Tiger Woods made a name for himself on the golf course and has used that name to pay off with corporate sponsors.

So here's the recipe for what it takes to be one of the top athlete endorsers these days. Take an athlete with extraordinary talent, add a dash of flash and a dose of dash, sprinkle in obstacles to overcome along the way, mix in a marketable name and -- voilá -- the perfect brand made fresh and ready for application to shoes, clothes and beauty products.

But Woods and Williams, who will reportedly earn $54 million and more than $20 million in endorsements next year, respectively, are made up of more than the typical concoction.

Although both athletes play in niche sports, in that the TV ratings are modest and the ability for fans to attend the game is limited, athletes in individual sports are arguably in the best position that they have ever been, endorsement-wise.

"Individual sports are really on the rise and team sports are in the form of a decline," Burton said. "Who is the star of the NFL today? You used to be able to answer that question right away -- Montana, Unitas or Jimmy Brown. Now the NFL has no one guy, the NBA is trying to make that guy Vince Carter and that hasn't necessarily taken yet."

Corporations like the fact they can pick and chose who wears their logo in an individual sport, instead of buying space on a team's uniform or even for a whole league.

"A sport like tennis is unique because when Venus is playing she's not wearing a uniform from a league, so she's perfect for marketing our brand," said Angel Martinez, executive vice president and chief marketing officer of Reebok International.

Whereas leagues are stationary in one country, athletes in individual sports benefit most from the endorsement craze. They routinely play outside the United States, which expands a company's global marketing position.

"Michael Jordan was still the biggest athlete in the world despite the fact that he spent 90 percent of his time in the United States," Bonham said. "But there's no question that Tiger and Venus traveling internationally in a time where our society is as global as it has ever been and the overseas markets are bringing in a substantial amount of income is a big part of why they are at the top."

"I'm traveling all over the world at any given time," Williams said, "so people who buy what I endorse can see me wearing it."

Another reason both Woods and Williams are a hot endorsement ticket is their fathers, who they can thank for not only their marketable names but also for their help pushing their children into the spotlight. Both fathers have backed out of the limelight themselves, leaving the focus alone on their children.

"I think (Richard Williams) was pretty shrewd at staying out of the limelight recently," Burton said of Williams' father, who talked about his oldest daughter's retirement earlier this year. "Tiger Woods' father had a similar game plan from very early on and executed it perfectly. Their kids have become champions and multimillionaire endorsers because they have stepped back and didn't need any more of the spotlight for themselves, unlike (Jelena) Dokic's father and (Mary) Pierce's father - whose kids have not become champions."

Richard Williams, according to Davis, was the key influencer in the room with Reebok CEO Paul Fireman at the final negotiations for the latest Reebok deal.

Williams' previous endorsement deal with Reebok ended in April. Though she sat out the first two months of the season with tendonitis in both her wrists and played in only nine tournaments this year, she won five tournament titles, including two grand slams -- Wimbledon and the U.S. Open. She finished the year ranked No. 3 on the WTA Tour and won the gold medal in singles and doubles at the Sydney Summer Games.

Her record was 35-4, including 25-0 on the hardcourts.

Martinez said the uncertainty of Williams' return delayed a quick renewal when the original contract expired.

Darren Rovell, who covers sports business for ESPN.com, can be reached at Darren.Rovell@ESPN.com.