WHAT DO THE PATENT INSURANCE POLICIES COVER?
1. The significant legal costs of enforcing your patentagainst third parties who may have copied them;
2. The significant legal costs of defending a claim that you have infringed a competitor’s patent;
3. Any exposures arising under warranties or indemnities given to customers, licensees, or agents;
PATENT INSURANCE BENEFITS
1. Protecting cash flow
The cost of litigation can have a devastating impact on the value of a company. Patentees often cannot afford to take decisive action which reduces the value of their rights and the business itself as infringers know they will get away scot free.
Our policies meet the cost of litigation allowing you to take swift and decisive action without affecting the financial position of your company.
2. Providing a deterrent
Once you have purchased a policy you can confirm in your marketing literature that insurance is in place. This will make potential infringers think twice about copying your patents.
3. Reassures lenders and investors
If you have taken the time to protect your innovation by obtaining a patent, having patent
insurance in place gives lenders and investors comfort that resources are available to maintain the value of the right if it is infringed. It also shows prudent planning and an understanding of the importance of intellectual property to your business.