IP is one of your most valuable assets. In today’s business world, protecting those assets against third party infringement can be both complex and expensive. The same is true when it comes to protecting yourself against claims from others that you have infringed upon their patents, trademarks or other forms of intellectual property.
Our policy is a business enabler to small and medium sized companies and provides comfort to all stakeholders in the business in four vital ways:
- It ensures that infringement allegations can be defended efficiently and without affecting the bottom line unnecessarily.
- It protects innovation by affording the opportunity to pursue infringers of own rights as this course of action is sometimes necessary to retain the value of the business.
- If the insured is forced to stop selling a product due to infringement, it pays the loss of profit for a period, allowing the company to recover its position and invest in its other products.
- Last but not least, if a right is lost through the course of an infringement action, the money invested in obtaining and maintaining that right is also recovered under the policy.
Our innovative insurance product covers companies of all types for their IP infringement exposures.
- Comprehensive cover for all IP, including patents, trademarks, copyright and trade secret
- Covers all business activities of the insured but can also be tailored to requirement
- Costs of defending infringement allegations and the payment of damages or settlement awards. Cover includes: counterclaims, product recalls and other loss mitigation measure
- Cover for directors and officers joined defendant
- Cover for contractual obligations to indemnify licensees or customer
- Cover for the costs incurred in obtaining and maintaining a registered right if the right is invalidated or revoked as a consequence of an infringement actio
- Cover for the loss of profit during a 12 month period if the insured is prevented from selling a product due to an infringement clai
- Cover for some elements of contract or employee disputes in relation to intellectual propert
- Cover for costs to avert or mitigate a loss of reputation caused by an infringement clai
- Worldwide cover as standard
Discuss the program or get additional information:
Call: 631-421-2424 ext 300 Mon – Fri 8:30 – 4:30 Eastern Time