By Debbie Emery - Breaking Celebrity News Reporter

Not only is he a phenomena on the basketball court, Jeremy Lin is proving he is smart with his money too by applying for a trademark for his new moniker, 'Linsanity.'

The 6'3" New York Knicks player who has taken the sports world by storm by leading his team to seven wins in a row in his first games as a NBA starter, wants to gain sole control over the chant that is repeated by hundreds of fans every game.

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"We're prepared to protect his intellectual property rights," said Lin's attorney Pam Deese at the Washington, DC law firm of Arent Fox.

Lin, 23, who is a Harvard economics graduate, paid a filing fee of $1,625 to cover use of the trademarked term on all manner of apparel, from underwear and backpacks to action figures and beer huggies.

According to court documents, the application was filed on February 13, but as Breaking Celebrity News previously reported, Yenchin Chang, 35 from Alhambra California, beat him to basket by applying two days earlier.

A third man, Andrew Slayton, also applied for the right to sell 'Linsanity' t-shirts on his website, Linsanity.com. However, he could be violating several trademark laws and be performing a flagrant financial foul, trademark attorney Josh Gerben told The Huffington Post.