How do I know which type of policy is right for my business?

At Safeguard iP we understand Intellectual Property and its value to you. With over 15 years’ experience advising client’s on Intellectual property issues our team will carefully consider your application and talk you through the most suitable options. We guarantee we will only recommend the right cover for your business at the right price.

What do I get for my money?

Our policies cover a range of different risks. Some cover the legal costs (up to the amount requested) of enforcing your intellectual property rights or defending an action if you are accused of infringing someone else’s rights. Others cover damages awarded against your business and/or claims made under idemenities.

Do you cover all intellectual property rights?

Yes, whatever rights you hold, we can protect them for you. Our policies cover both registered rights such as patents (including patent applications) designs and trade marks and unregistered rights such as copyright and confidential information.

How much will it cost me?

If your turnover is less than £5million you might qualify for the OPUS100 product. The product has fixed premiums and is very comprehensive. Click here for further information. If you do not qualify for the OPUS100 policy it is very difficult to estimate premiums.  The key criteria for calculating premiums will be the type of risk and IP right being insured, the sector in which the right holder operates, the territorial scope of protection and the level of cover required.  In most cases insurers provide free price indications so once we receive a completed application form we will obtain a price estimate for you with no obligation to purchase.

Like most other types of business insurance premiums are paid annually and the policy pays out if and when a claim arises.

Can the premium be paid in instalments?

Yes, we have an arrangement with a premium financing company to allow payment by instalments. This will be subject to interest charged by the finance company but it means you can spread the cost of the policy over a longer period of time. The ability to obtain finance is subject to status.

What else will I have to pay?

As with all insurance policies a certain amount of excess will be payable if a claim is made. The size of this excess is chosen by you. Excesses start at £1000. Under some policies you may have to pay co-insurance which is a percentage contribution towards the costs of any claim. We shall inform you whether co-insurance applies when discussing the best cover for you.

Can I advertise the existance of the policy to act as a deterrent?

Yes. We recognise it is important for your competitors to know you are insured against intellectual property infringement. All our policyholders will receive a stamp to add to their marketing literature to confirm a policy is in place.

What info do you need for the application and how long will the process take?

Hardly any time at all! You can give us all the information we need for a quote by clicking here and completing our proposal form. If we need further information we can either get in touch by phone or email. Once we have a price indication from our insurers we recommend a call to discuss your options. When you have decided which policy best suits your needs we will  ask the insurer to prepare a formal quote for you to sign off. The whole process should not take longer than 10 working days.

Do you undertake an assessment of my Intellectual Property?

A risk assessment on the likelihood of a dispute arising will be carried out but we do not disclose the details of this assessment. At no point is the validity of the right assessed.

Can I buy a policy if I’m already aware of an infringement or that one is likely to occur?

We cannot insure you if you are aware of an ongoing infringement or if you know/believe an infringement is likely to occur. Misrepresentation will lead to the insurer demanding the return of any money it has paid out to you. If you are currently aware of an infringement and are concerned about the costs of taking action please do give us a call as Safeguard iP has access to alternative funding solutions which we would be happy to discuss with you.

Once the insurance is in place can I pursue any claim?

If you have a potential claim you will need to obtain a legal opinion from a qualified person confirming that the chances of successfully pursuing the claim are over 50% or in some cases over 60%. This is on the basis that no sensible business would pursue a claim it is likely to lose and insurers cannot be relied upon to fund such actions.

If I have a claim can I chose my legal representative?

In most cases, yes, but we must ensure your chosen representative has the necessary skills and knowledge to fight the claim. The choice of representative is therefore subject to the insurers approval. When we advise on the nature of the policies we will confirm whether a particular solicitor must be used.

Do you keep information about my Intellectual Property confidential?

We are happy to sign a confidentiality agreement before you provide us with any confidential information about your IP.