Intellectual Property Insurance

WTJ

For many businesses, their value lies in what makes them unique. That’s why it’s vitally important to protect the patents, trademarks, copyrights and other intellectual property that makes a competitive and successful business.

The number of lawsuits relating to intellectual property rights has increased significantly over recent years and the protection of an intellectual property policy would cover the defence and pursuit of intellectual property infringement claims, which could be catastrophic for any business.

Intellectual property (IP) insurance solutions are designed to protect an enterprise from the substantial financial risks involved with IP related disputes.

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.

Get in Touch

If you would like a quotation then please contact us today on 01924 871111 and a member of our specialist team will be happy to assist you.

Alternatively, use our contact form below and we’ll be in touch to help.

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WTJ Insurance

Landmark House, 556 Leeds Road,
Outwood, Wakefield, WF1 2DX

Call: 01924 871 111
insurance@wtj.co.uk