Better protect your intangible assets.
Effortlessly enforce your rights.
Minimise risk.
The nature of competitive advantage is undergoing significant change. The emphasis has steadily moved from physical to intangible assets. As a result, using intangible assets as a strategic tool is now a critical decision made at the boardroom level.
Intangible assets are often the major drivers of company success, yet they are:
Take this simplified example from NYU’s Stern School of Business:
Spends $10M on R&D (intangible assets) so that it can manufacture product X.
Purchases intangible assets for $10M so that it can manufacture product X.
InsureIP’s bespoke solutions help mitigate the legal exposures that can arise for owners of intangible assets, such as IP (patents, trademarks, copyright, designs and trade secrets).
By working closely with patent and trademark attorneys, as well as accounting and legal professionals, we’re able to broker a tailored IP insurance product for all our clients – ranging from individuals to large multinationals.
IP Insurance plays a strategic role as a risk transfer mechanism. Further, it can bring additional commercial benefits that can offset some of the costs of risk.
The following provides simple examples of how IP insurance can be used in a variety of ways, for those who have IP rights, those who license in IP rights, and those who have no IP rights but are concerned about infringement.
Specific policies can be customised as needed, depending on the required coverage, and more than one type of cover can be used.
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You are a company that manufactures and sells products in a market with competitors who have a reputation for asserting their IP rights such as patents, trade marks, designs, copyright and trade secrets. You are concerned that you may be at risk of receiving assertions of infringement.
Defensive cover can cover legal costs, damages, product recalls, counterclaims, and provide assurances that infringement actions do not impact the bottom line of the business.
You are a company that manufactures and sells products that are protected with IP rights (such as patents, trade marks, designs, copyright and trade secrets), are in a market with copycat competitors and are concerned that they will manufacture or sell an infringing product.
Enforcement cover can cover legal expenses paid in enforcing your IP, including adverse and assertion costs and counterclaims.
You are a company with a few key IP assets that underpin the value of the company, such as a start-up or SME, and are concerned that a competitor may try to invalidate your IP rights. The loss of these IP rights would have a dramatic impact on the bottom line of the business.
Coverage to protect the loss of IP rights provides a monetary payment for the loss of IP rights in the event the IP rights are invalidated or an injunction is imposed on IP rights.
You are a company that sells a product from a supplier under license. The supplier insists that the product does not infringe IP rights, but it is not willing to include clauses in the contract to fully indemnify to cover potential losses due to an infringement action.
Contractual indemnities cover provides monetary payment for the loss of income incurred from infringement and contractual termination.
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Weekdays: 9am – 5pm AEST
Fill in your details below including your message and we’ll get back to you as soon as possible.
