What is the correct term for "Bird Rights"?

The term "Bird Rights" refers to a provision in the NBA salary cap system that allows teams to exceed the salary cap to re-sign their own players who have met certain requirements related to years of service in the league. This term takes its name from former player Larry Bird, who was instrumental in establishing the rule that allows teams to retain their star players even when they are over the salary cap.

Qualifying Veteran Free Agent is connected to a player's ability to receive a qualifying offer to remain with their current team, but it does not encompass the specific benefits that Bird Rights provide. Under Bird Rights, a player qualifies for this status after three seasons with the same team, enabling a team to offer a higher salary without being restricted by the salary cap limitations normally imposed on free agent signings.

The other choices do not accurately describe Bird Rights; they relate more to different categories of free agency without the special provisions that Bird Rights entail. Thus, the most appropriate choice that captures the essence of Bird Rights is Qualifying Veteran Free Agent.