by lakemen » Fri Apr 21, 2006 05:05 am
When an insurance policy provides the coverage to protect an inventor or a third party from the risk of unintentionally infringing a patent, that insurance policy is called Patent infringement insurance.
This is a form of professional liability insurance for the sellers, manufacturers if they are charged for infringing a patent holder's right.
This insurance also covers the legal costs for the inventors in case they sue some infringer.
This is a form of professional liability insurance for the sellers, manufacturers if they are charged for infringing a patent holder's right.
This insurance also covers the legal costs for the inventors in case they sue some infringer.
Posted: Sun Nov 23, 2008 02:19 am Post Subject: patent infringement insurance
as an inventor I want prepaid patent infringement insurance so I can sue infringement violators
Steven M Goldstein
GKL Products
209 748-2400
Posted: Tue Feb 17, 2009 02:53 pm Post Subject: Patent Infringement Insurance
Any inventor or company that makes, uses, or sells a product in commerce, or owners of patents, trademarks, and copyrights, should consider purchasing Intellectual Property Insurance.
The average cost to litigate a patent infringement suit is $2.6 million, and that amount excludes damages that could be awarded against you! For most inventors and companies, being sued for IP infringement is a catastrophic event, since funding the defense drains the cash available, exhausts available credit lines, and in many cases forces a halt of business operations. Defending an IP infringement suit from a position of financial weakness must be avoided at all costs.
IP Insurance provides the solution by giving you the funds to make the legal system work for you. IP insurance comes in two main types:
1) Offensive coverage, usually called Infringement Abatement Insurance, pays the insured's litigation expenses when they have to sue a third party to enforce their own IP rights. If someone is "knocking off" your product, IP insurance gives you the resources to mount an effective legal campaign against the infringer.
2) Defensive coverage, called Infringement Defense Insurance, pays the insured's litigation expenses when they are sued by a third party for patent, trademark, or copyright infringement. The policy can also pay for damages awarded against the insured if they lose the lawsuit.
There is only one company in the USA to turn to for IP insurance, and that is IPISC of Louisville, Kentucky. IPISC has been writing IP insurance for almost 20 years. Give us a call at 502-855-5327.
Jason Chandler, J.D.
IPISC
Posted: Tue Jun 30, 2009 08:38 am Post Subject:
Hi guys..
It could be a nice opportunity to explain of couple of things regarding the patent infringement insurance issues.
Some of the companies would provide you with offensive patent infringement insurance policies which are offered through local retail agents. A major insurance carrier would usually underwrite such policies. The job of the underwriter is to carefully study the patent offers sent for enforcement. He'd only allow coverage for thos epatents which appears to be legitimate. Purpleheaded08
Posted: Mon Nov 15, 2010 07:20 pm Post Subject: patent infringement insurance
please provide more information and cost
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