Riley Patent Is Slick Now : NBA playoffs: If Bulls want to use ‘three-peat,’ they have to pay Knick coach for the trouble.

If the New York Knicks win their NBA semifinal playoff against Chicago, the victory would be worth about $57,000 to Coach Pat Riley.

If the Bulls win and go on to a third consecutive NBA championship, the payoff will be a lot more, especially if anybody describes Chicago’s accomplishment with the catchword “three-peat.”

That’s because Riley owns the word.

Riley took out a trademark on the word when he coached the Lakers to consecutive NBA crowns in 1987 and 1988.

Riley’s thinking was to be prepared, in case the Lakers went three for three. Merchandise manufacturers could use the word on T-shirts, jackets and hats--for a fee.

Those Lakers failed to deliver a third consecutive title and so did Detroit, which won NBA championships in 1989 and 1990. So Riley’s trademark word sat idly by, biding its time, waiting for someone to seize it.

And now, along come the Bulls, winners of two NBA crowns in a row, hoping to . . . well, you know what.

Some companies have said they will avoid using “three-peat” on the post-playoff paraphernalia so that they will not have to pay the royalty fee, which would increase the price of the merchandise.

It would seem, however, to be hard to ignore the word. A three-peat is, well, a three-peat.

Financially, then, Riley will benefit no matter who wins the Chicago-New York series, which starts Sunday. The payoff could approach $2.5 million, according to one shirt manufacturer.

Riley knows all about the strange circumstances this creates.

“That’s great,” the coach said when asked about the possibilities of the Bulls helping him cash in on his word. “It’s the American free-enterprise system. It’s only awkward for me if you look at it that way.”

The Bulls recognize the irony of the situation and salute Riley for what was certainly a shrewd marketing move. They have no idea how shrewd, though.

When he registered his pet word, Riley decided to take no chances. It made sense, he decided, to protect himself, in case a really special team came along.

He also registered “four-ward.”