LOUISVILLE, Ky. , March 13, 2014 /PRNewswire/ -- Small businesses must be able to protect their innovations from the predatory business practices of some companies or they risk incurring burdensome royalty payments under licensing agreements, being forced to settle or going out of business.
Businesses with successful, innovative products are more likely to be involved, either offensively or defensively, in an intellectual property (IP) lawsuit. With litigation costs and damages reported in the millions of dollars, many small businesses and entrepreneurs may find themselves struggling to adequately fund IP litigation. The only alternative may be accessing working capital reserves, if any are available.
IP insurance enables the policyholder to fund the litigation to enforce IP rights and/or defend against charges of IP infringement, successfully. Obtaining insurance exclusive to this exposure leaves operating capital to be used to grow, capture market share and maintain profitability, while helping the policyholder get through an IP lawsuit on the merits of the case, not on who has the deeper pockets to fund a lawsuit.
IPISC's Abatement Insurance, a unique, plaintiff's policy, is the solution to help clients fund the litigation costs to enforce IP rights, while enabling an equitable resolution based on the merits of the case. IPISC offers a full scope of IP-specific coverages including Abatement, Defense, Multi-Peril and Unauthorized Disclosure policies on a worldwide basis. IPISC helps ensure that the funds and the litigation support are available for the policyholder to get through the litigation process.
IPISC's president, Robert Fletcher , reminds, "You can't afford to ignore the importance of insuring your IP. If a company is being taken advantage of and must resort to litigation, specialized IP insurance policies are the only risk-transfer tools that can ensure that the funds are available for paying legal expenses. Without specific IP insurance, these companies are often left with no real alternatives to cover the cost of litigation. The inability to protect intellectual property is a leading cause of failure for start-ups and small companies."
IP insurance is quickly becoming the most logical and economical choice that companies can make to ensure that the means are available for funding the high cost and consequences of IP litigation. For further information, please contact Janet Zahnd , Sales/Marketing Manager, at [email protected] , 502-855-5314, www.patentinsurance.com.
About IPISC
IPISC is the industry leader and expert in Intellectual Property Insurance. Because we have been in the business of managing risk and protecting the value of client's IP assets for over 23 years, we have developed products that use advanced strategies to become market leaders in the dynamic field of IP insurance. We are committed to providing you top-notch underwriting, insurance products and services.
SOURCE Intellectual Property Insurance Services Corporation
