Why buy IP Insurance
Intellectual property claims can be time consuming, expensive, and damaging. Whether your IP is being infringed or whether you have inadvertently infringed someone else’s rights, difficult decisions must be made and actions taken. In some cases disputes relating to intellectual property can be settled fairly quickly, but often they take time and significant cost to resolve. Unfortunately, IP lawyers are not cheap.
If you do not have the cash reserves or intellectual property insurance to cover these costs, you’ll have little option but to settle claims on unfavourable terms or allow the infringement to continue, which very often results in financial and reputational harm, and the devaluing of intellectual property.
So, if like most businesses, you are investing money and resource into building a brand, technology, or product, We strongly urge you to investigate the benefits of IP insurance. Assets of this nature are intangible, which makes it very hard to place specific value on them should they be infringed but these are often the most valuable assets in your business. The devastating cost of preventing their theft can be mitigated by purchasing IP insurance.
We appreciate you are unlikely to have purchased IP insurance before, so once you have completed the proposal form, we will work closely with you until you have found the solution that works best for your business.
Contact us today for further information on our IP insurance policies. We look forward to working with you.