Intellectual Property Insurance

Key features of an intellectual property policy include:

• PATENT AND IP INFRINGEMENT LIABILITY

  The defence of patent and other IP infringement claims being brought including legal costs, damages, settlements and counterclaims.

• CONTRACTUAL INDEMNITIES COVER

  This cover facilitates business by allowing smaller companies to agree and meet the contractual indemnities required by their customers.

• PURSUIT OF INFRINGERS

  Companies spend a great deal of time, energy and money developing their intellectual property. This significant investment should be protected and the costs associated with enforcing rights if someone infringes a valid right and it has a commercial impact can be covered.

• LOSS OF PROFIT COVER

  Cover for loss of profits can be critical for small and medium-sized businesses with only a single or a small handful of product lines. In the event that an infringement case is lost and it results in an injunction, cover can apply for resulting loss of profits for up to 12 months.

• LOSS OF IP RIGHT COVER

  Investment in intellectual property costs a great deal. If a right is invalidated as a consequence of infringement action, a policy can repay that investment allowing the company to move onto the next project.