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Intellectual Property Insurance protects manufacturers and distributors against certain intellectual property violations involving patent, trademark, or copyright infringement.

The most popular type of intellectual property coverage is Infringement Defense Cost Reimbursement Coverage. This policy reimburses you for your legal expenses when you must defend yourself against intellectual property infringement lawsuits.

Infringement Defense Cost Reimbursement Coverage is needed for the following reasons:

• Your ability to defend yourself in infringement lawsuits may be the key to your company’s survival. Every lawsuit charging infringement must be taken very seriously and defended to the utmost no matter how frivolous the suit may be.
• The alternatives to carrying insurance are to abandon your accused products, attempt to obtain a license from the accuser from a position of financial weakness, or to defend yourself using your cash reserves or available credit lines.
• The median litigation cost for an infringement suit through trial can range from $250,000 for copyright to $2,000,000 for patent.

A relatively new and increasingly popular type of intellectual property coverage is Abatement (Enforcement Coverage). This policy covers litigation expenses incurred in enforcing your intellectual property rights against infringers.

Abatement coverage is needed for the following reasons:

• Your intellectual property is a valuable asset. Every act of infringement lowers its value and unabated infringement can render it totally worthless.
• The alternatives to carrying abatement insurance available to you for dealing with infringement are to abandon your intellectual property, attempt to license the alleged wrongdoer or tie up your cash reserves in legal costs. The first two alternatives are not acceptable as they may render your intellectual property rights worthless. The third alternative is risky because an aggressive alleged wrongdoer may sue you in the forum of his choice, forcing you to incur huge legal costs.
• The median litigation costs for an infringement suit through trial can range from $250,000 for copyright to $2,000,000 for patents.

Articles And Applications

Infringement Defense Cost Reimbursement Coverage

(Reimburses you for your legal expenses when you must defend yourself against intellectual property (IP) infringement lawsuits.)

• Program Summary
• Features & Benefits
• Questions & Answers
• Application

Abatement Enforcement Coverage

(Covers litigation expenses incurred in enforcing your intellectual property rights (IP) against infringers up to the policy limit. IP includes patents, trademarks, and/or copyrights.)

• Program Summary
• Features & Benefits
• Questions & Answers
• Application