Intellectual Property Insurance for Trademarks, Patents & Copyright Infringements
Intellectual property lawsuits can easily cost millions! lIntellectual property insurance policies help alleviate the financial burden associated with complex and expensive IP lawsuits.
Our Intellectual Property Insurance offerings can help companies with:
- Combating litigation.
- Paying legal costs if your client is sued for infringement or their ideas are stolen.
- Offering confidence that they can’t simply be spent out of business with a frivolous lawsuit.
- Supporting their claims to the fullest extent of the policy.
- Reducing their risk of going out of business.
- Minimizing their risk of unattractive licensing deals.
These policies help to reimburse policy holder’s litigation expenses to enforce IP rights, which further enhances and strengthens the value of insured patents -and- reimburses litigation expenses and damages (if chosen) to defend charges of IP infringement.
There are (two) types of Intellectual Property Insurance coverages available:
- Intellectual Property (IP) Abatement Insurance is a plaintiff’s policy which helps the policyholder enforce their IP rights against alleged infringers. The insurance provides funds and services to enable policy holders to more effectively negotiate, protect and enforce their IP rights.
- Intellectual Property (IP) Infringement Defense Insurance reimburses legal expenses, and damages awarded against the insured (up to policy limits), to defend against charges of IP infringement. This policy is for any company that makes, uses, and/or sells a product, or uses a word or mark in commerce.
IP Defense insurance coverage is especially important today for Cyber/Media Based Technology companies as it can help to protect important products and methods against charges of IP infringement. An IP Defense Insurance policy can help mitigate the risk in an indemnification agreement as it helps transfer the burden of managing this costly, and potentially devastating, risk.
Today a “Intellectual Property Insurance” policy may be what keeps your company from closing its doors in today’s litigious society. An IP policy helps ensure that you have the resources necessary to protect your IP assets.