Risk of IP litigation

A UK Government survey has found that while the majority of firms felt IP was important to their business, no less than 25% had been involved in legal disputes involving their intellectual property rights.
As the survey suggests, there is a real chance that your business will be involved in a legal dispute relating to its intellectual property at some point in the future. Therefore, it is seriously worth considering how your business would cope if it were involved in litigation either to enforce its IP or to defend an IP infringement claim.

Because your intellectual property portfolio consists of intangible assets, you will not necessarily be able to quantify its exact value but if your business were to suffer an infringement of its brand, product design or website content, what would you do? Would you have the significant funds needed to take legal action?

The nature of IP litigation is unpredictable; no one can foretell how long each individual case will take or how much it will cost. Whether you have done so deliberately or not, you may be on the receiving end of an IP infringement claim. The defence costs alone, particularly in the High Court, or in other jurisdictions, can be severe and even devastating for many companies.
With the correct intellectual property insurance in place you can safeguard the value of your brand and your business. Legal action relating to IP can be taken with the knowledge that your assets are adequately insured.

If you’re concerned that the success of your IP may lead to copycat products which you could not afford to stop, then call us today. We will find you an affordable solution which will not only allow you to take decisive action but will act as a deterrent to reduce the risk of it happening at all.