Intellectual Property Insurance
Your intellectual property may not be tangible but it is valuable and worth protecting with insurance
Anthony Jones is an independent company, passionate about protecting the rights and ideas of individuals. Your intellectual property (IP) may not be tangible but it is valuable and worth protecting with insurance.
Every company has intellectual property. In its simplest form the name of the company or the website address is intellectual property. Patents, trademarks, designs, copyrights, trade or industrial secrets would all be common examples. For some companies, over 80% of their total value can be derived from their intangible assets. Despite this, balance sheets rarely reflect the true value of intellectual property and insurance protection such as patent insurance is equally as rare.
Intellectual Property protection insurance has developed significantly in the last decade and is relevant to all types and sizes of organisation, from new start-up ventures to large multinationals. Enforcement of intellectual property rights, the validity of them and contractual disputes are increasingly common and, as a result, the insurance market has responded. Policy coverage has broadened whilst minimum premiums have fallen considerably.
Policies can now be tailored covering one or more of the following sections:
- Infringement defence, legal costs and damages awarded by the court
- Breach of an agreement, such as non payment of milestones or royalties
- Infringement pursuit
- Business Interruption / R&D costs following an injunction
- After the event (ATE) cover
- Investigation costs
In addition to providing indemnity for losses and costs incurred, IP insurance has the significant additional benefit of providing a deterrent to large competitors who may think that the insured does not have the financial resources to pursue a claim for infringement. The existence of insurance also strengthens the insured’s negotiating position with any third party.
Anthony Jones Insurance Brokers is proud to be a member of IPAN (Intellectual Property Awareness Network) and we work collaboratively with our insurer partners and lawyers to help our customers protect themselves.
If you would like to find out more about protecting some, or all of your intellectual property, we would be happy to help you and we can tailor cover to suit which is as unique as you and your IP.
Please call Mark Stevenson or Tom Cowap on 020 8290 9080.