Intellectual Property Insurance
Protect your company's innovations and intellectual assets with intellectual property insurance.
Intellectual property litigation's are on the rise. And as the chances that your business will be involved in an intellectual property lawsuit go up, so do the stakes. Defending your company against a patent-infringement lawsuit could cost you millions in legal fees; a high price to pay even if you end up the “winner.”
And if you are on the losing end of a patent infringement dispute -- the damages could be astronomical.
PROTECT YOUR INTELLECTUAL PROPERTY
High-tech companies and businesses with patents and intellectual property to protect need additional protection to defend their assets. Aegis has a specialized insurance program specifically designed to offer your company the strongest defense against patent trolls and intellectual property litigation.
WHAT IS INTELLECTUAL PROPERTY INSURANCE?
An intellectual insurance policy is designed to financially protect you in the event that you are victim of intellectual property infringement. In other words, if someone steals your protected idea or design. It also provides protection if you find yourself in the unfortunate position of being forced into litigation for allegedly copying someone else’s intellectual property.
Protect your patents, trademarks, copyrights, trade secrets, and innovations from predatory companies. A unique plaintiff’s policy which reimburses litigation expenses, with no repayment required if you lose a lawsuit.
Commercial general liability coverage doesn’t always cover IP risks outside of advertising injuries. Defense insurance closes that gap to protect your company against IP claims - frivolous or not.
Troll Defense Insurance
Patent “trolls”, or Patent Assertion Entities, exist to sue companies for using their non-core products. As many as 68% of all patent lawsuits are filed by trolls, who target small businesses and start-ups. Troll defense insurance is your best defense against these costly demands.
WHAT DOES AN INTELLECTUAL PROPERTY THREAT COST?
Two competing companies with similar intellectual property assets could take their products to market and let consumers decide which is superior.
But more often, they fight it out in court with IP litigation.
Unfortunately, the company who emerges victorious from an IP battle is not always the company who deserves to win.
In many cases, it is the company who can best survive a costly and drawn out court battle who ends up the winner.
That’s not good news for startup, small, or mid-sized businesses who are going up against larger, more established companies prepared for the high cost of an IP war. A larger, better financed competitor may find it easier to vanquish your company in the courtroom rather than let your product or process make it to market.
Even if you are successful in defending your intellectual property, a “win” may still feel like a loss.
The average total litigation costs in patent infringement cases is $3 million.
DO I NEED INTELLECTUAL PROPERTY INSURANCE?
It is estimated that 80 percent of a company’s value resides in its intellectual property holdings, which may include patents, trademarks, copyrights and trade secrets.
Without IP insurance, your company could be forced to finance its own legal proceedings any time it entered a lawsuit for intellectual property infringement.
Most companies and individuals with intellectual property holdings do not have the ability to spend potentially million of dollars on IP lawsuits.
WHAT IS PATENT INSURANCE?
The terms IP insurance and patent insurance are sometimes used interchangeably, but not all intellectual property policies cover patents.
Patent insurance is a type of intellectual property insurance that specifically covers patents, copyrights, and other specific types of IP.
Patent insurance is designed to protect you - the patent holder - from financial loss when you must take a third-party to court due to infringement on a process or product your company developed and patented.
There are typically two types of patent insurance coverage available for your company: defense coverage and offensive coverage.
Defensive patent insurance protects your business in the event of a patent lawsuit.
Offensive patent insurance provides you with the means to go after someone infringing on your patent rights.
Bodenstein Insurance offers intellectual property insurance and patent insurance to help you defend your patents, trademarks, and intellectual assets from the high cost of litigation's and patent trolls. We will work with you to find the right policies for your needs. We specialize in intellectual property insurance, and have access to a variety of insurance companies to provide a custom solution for your individual business within your budget. Call us today at (775) 782-3030 for a free quote, and we will take care of the rest.