Intellectual Property Insurance from InsuringTech.com
In the age of the internet, many companies traffic in ideas. However not every company is scrupulous, which is why intellectual property insurance is a must for many companies. You wouldn’t let a competitor steal products out of your store and resell them, nor should you allow rivals to take your concepts and repackage them as their own. Unfortunately, when it comes to Intellectual Property (IP), the laws aren’t always as obvious as they are for physical property. Nonetheless, intellectual property rights do exist, and it’s important your ideas are protected. IP insurance protects your copyrights, trademarks, and patents from infringement, and even helps cover costs stemming from Intellectual Property Rights (IPR) suits and judgments.
Who Needs Intellectual Property Insurance?
If your business holds patents for inventions of any kind you need intellectual property insurance to protect your proprietary property and make sure other companies don’t steal your ideas and market them as their own; profiting off your hard work. Trademarks can cover names, logos, symbols, images, and more. If you don’t own the trademark to your company’s logo or product names, it is possible for rivals to move in and use your branding. If you publish research materials, or any other kind of documentation, it is vital that your business owns the copyright to that material so you can ensure that content cannot be used without your authorization. It’s not enough to own the legal rights to your ideas and services, you must be prepared legally to defend them, with IP insurance!
The Advantages of IP Insurance
Without IP insurance, the cost of a lawsuit to reclaim your rightful property can bankrupt your company. Whether you are defending your intellectual property or pursuing a suit against another company, the costs of such proceedings can be high. Fortunately, intellectual property insurance makes it possible for you to protect your business’ most valuable assets. IP insurance pays defense costs in the event of a suit, and if necessary, will pay any judgment within the limits of the policy. Simply having an intellectual property insurance policy will discourage competitors from launching frivolous suits against you in the hope of draining precious resources from your main business. If your business depends on proprietary technology, research, or branding, you need IP insurance.
Protect your business with intellectual property insurance: contact InsuringTech.com today for a quote!