IP INSURANCE
Almost every company has intellectual property (IP) risk, given that any company that is making, using, selling, importing or offering for sale most goods and⁄or services in commerce is vulnerable to IP litigation.
Many companies also have established rights in patents, trademarks, copyrights or trade secrets, making IP risk management a critical part of constructing an effective risk management plan.
Companies owning significant breakthrough technologies put forth hard work and creativity; however, they often fail to plan for the cost of defending their current operations and enforcing their IP.
Properly evaluating risk by including IP insurance in a company’s risk management plan ensures the resources will be available to fund the high cost and consequences associated with IP litigation on the merits of the case, not on who has the deepest pockets.
Early Intervention (EI) Services (Infringement: Abatement)
Provide non-threatening ('Cease & Desist) letters, sent to suspected infringers, advising them of the existence of the policyholder’s intellectual property (IP) rights and the fact that those rights are insured.
Litigation Management Services (Defense)
Assist in managing legal services and costs associated with costly IP litigation. Defense coverage is available for any company that is making, using, selling, offering for sale or importing goods and⁄or services, using a trademark and⁄or service mark and⁄or using copyrightable material in commerce.
Unauthorized Disclosure of Confidential Information (UDCI)
Reimburse litigation expenses and⁄or damages which allege an Unauthorized or Unintentional Disclosure of a third party's Confidential Information by the Named Insured.