Intellectual Property Insurance

IP protection allows you to defend your business efficiently, preserve its finances and reputation and without unnecessarily affecting the bottom line – so your business can continue to operate while the claim is resolved.

And whether you work in life sciences, software development or manufacturing, there’s a chance your business could find itself defending claims of Intellectual Property (IP), copyright or patent infringement and this broad policy can be arranged to cover both single projects and portfolios, allowing you to defend claims from around the world.

Risks can also arise when commercial transactions occur, such as merger, acquisition or sale of your IP portfolio.  The relevant IP insurance can protect against the representations and warranties given as part of this.

Plus, with limits up to £15m available – and no unnecessary exclusions – you’ll have complete peace of mind.

Included:

• All IP – including patents, trademarks, copyright and trade secrets
• Expert legal assistance
• Defence costs
• Payment of damages
• Contractual indemnities and ‘hold harmless’ undertakings given to other parties
• Loss of IP right
• Loss mitigation measures
• Counter-claims
• Product recall
• Loss of profit
• Investigation costs
• Reputation management

Optional add-ons:

• Pursuit costs – if your IP is breached
• Withdrawal expenses

All of this will protect your core assets.

All we need to get started is a full description of your business, including what makes the company, product or services unique; revenue split by country and product; business plan (if you’re a start-up) and details of any previous claims.

UK company operating in the construction industry

• Action in the UK High court brought by a US-based company that had patents in the UK
• Patent infringement – defence
• Outcome – action lost by the Insurer
• Costs in excess of £400,000
• Recovery of Costs – Insured liable for the US company’s costs
• Client had £1,000,000 Indemnity

UK manufacturer of loudspeaker systems

• Action in Germany against a German company importing products from China
• Patent infringement – pursuit by the UK company (under its German patent)
• Outcome – successful with substantial damages awarded in favour of the client
• Costs just in excess of £200,000
• Recovery of costs – circa £195,000
• Client had £1,000,000 Indemnity

UK baby products company

• Action in UK High Court
• Patent infringement – pursuit
• Outcome – action won by the Insured
• Costs in excess of £250,000
• Recovery of costs circa 70%
• Client had £100,000 indemnity limit

UK medical devices company

• Action in USA District Court
• Patent Infringement – defence
• Outcome – agreed settlement
• Action took four years to resolve
• Costs in excess of £900,000
• Recovery of costs = NIL
• Client had a £1,000,000 indemnity