The value of IP insurance
I have just returned from an invigorating BIBA conference in Manchester. For those of you who do not know, the British Insurance Brokers Association’s annual conference is the largest gathering of insurance professionals in the UK.
I had the privilege of participating in a seminar on the importance of IP insurance and there is no doubt that awareness of these policies amongst brokers, IP professionals and right holders themselves is on the rise. The seminar included a presentation by a Senior Policy Advisor at the UK Intellectual Property Office (IPO) who spoke passionately about how IP insurance is a vital element in the protection of UK innovation.
It is no secret that the UK lags well behind other industrialised nations in the number of patents granted per head of population and the IPO believe that, in part, this is because SMEs fear the cost of having to enforce these rights. IP Insurance gives companies the fire power to stop infringements when they occur.
A perfect storm is brewing where IP is now a key driver business value but the risks to that value are greater than ever. Smart directors and shareholders recognise this and, with our help are taking steps to mitigate that risk and add real value to their IP assets.
Please get in touch if you would like to learn more.