Pi<br />2<br />Patent Insurance Institute <br />2010<br />Working with underwriting to define the insurable and sellable r...
Brokers and Underwriters<br />
Flow of Information<br />
Flow of Information<br />Technical<br />Privileged<br />Claims<br />Application<br />Quote <br />Binder<br />
Considerations for Underwriting<br />Scheduling IP for coverage<br />Scheduling Products for coverage<br />Abatement / Enf...
Abatement / Enforcement<br />
Abatement / Enforcement<br />Any protectable intellectual property:<br />Patents <br />Trademarks <br />Copyrights<br />Tr...
Abatement / Enforcement<br />Patents: Issued or Pending<br /> # if published or issued.<br />Unpublished:  Docket or seria...
Abatement / Enforcement<br />Trademarks: registered, pending or common law<br /> # if registered or pending.<br /> Identif...
Abatement / Enforcement<br />Copyrights: registered or with rights pre-filing<br /> # if registered.<br /> Registered or n...
Abatement / Enforcement<br />Trade Secrets<br />Uniform Trade Secrets Act protects: <br />information, including a formula...
Abatement / Enforcement<br />Trade Secrets – Scheduling<br />Defined as submitted or by reference, so underwriting can und...
Abatement / Enforcement<br />Foreign Equivalents ?<br />PCT’s ?<br />
Abatement / Enforcement<br />Must Have:<br />Ownership, <br />Right To Enforce or<br />Protectable Interest.<br />No “clou...
Abatement / Enforcement<br />Ownership Issues?<br />Inventorship questions?<br />Shop rights / ex-employers or ex-employee...
Abatement / Enforcement<br />NOT YET INFRINGED / NO COMMERCIAL ACTIVITY<br />Objective test:<br />Unauthorized INFRINGEMEN...
Abatement / Enforcement<br />INSURE EARLY AND OFTEN<br />Patent applications as soon as filed<br />
Abatement / Enforcement<br />WHO IS A GOOD CANDIDATE?<br />Valuable rights?     <br />% of actual or expected sales?<br />...
Abatement / Enforcement<br />Best Candidates for Abatement:<br />Protecting advantage in market<br />Lacks ready cash or c...
Abatement / Enforcement<br />Less Attractive Candidates for Abatement:<br />Patent holding companies<br />Business of find...
Defense<br />
Defense<br />Scheduled Coverage<br />Defined “Product”<br />Physical product<br />Process<br />Method of business<br />Tra...
Defense<br />Defining the “product”:<br />Schematics<br />Flow charts<br />Submit actual sample<br />
Defense<br />Defining the “product”:<br />Defined by insured’s own IP:<br />As “disclosed and claimed” in patent<br />Bett...
Defense<br />Collections of “products”<br />Catalogs / .pdf’s<br />
Defense<br />With opinion supplied<br />Non-infringement opinion <br />	with specific IP distinguished<br />Relying on inv...
Defense<br />Time on the market<br />Long time – lower risk<br />Emerging against well-established industries:<br />Insura...
Defense<br />Source of products:<br />Develop own products?<br />Buy from others?<br />Diligence? <br />Chance to network ...
Defense<br />Contract Requirements:<br />
Defense<br />Offering as benefit to customers<br />INSURED THROUGH:<br />
<ul><li>What are the applicant’s concerns?
Specific known risk?
Most important terms:
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Working With Underwriting To Define And Sell The Insurable Risk. Maureen Veterano.

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Working With Underwriting To Define And Sell The Insurable Risk. Maureen Veterano.

  1. 1. Pi<br />2<br />Patent Insurance Institute <br />2010<br />Working with underwriting to define the insurable and sellable riskPresented by: maureenveterano & robin fletcher<br />Celebrating 20 Years as the Industry Leader in<br />Intellectual Property Insurance<br />
  2. 2. Brokers and Underwriters<br />
  3. 3. Flow of Information<br />
  4. 4. Flow of Information<br />Technical<br />Privileged<br />Claims<br />Application<br />Quote <br />Binder<br />
  5. 5. Considerations for Underwriting<br />Scheduling IP for coverage<br />Scheduling Products for coverage<br />Abatement / Enforcement <br />Defense<br />
  6. 6. Abatement / Enforcement<br />
  7. 7. Abatement / Enforcement<br />Any protectable intellectual property:<br />Patents <br />Trademarks <br />Copyrights<br />Trade Secrets<br />
  8. 8. Abatement / Enforcement<br />Patents: Issued or Pending<br /> # if published or issued.<br />Unpublished: Docket or serial # and copy of filing<br />
  9. 9. Abatement / Enforcement<br />Trademarks: registered, pending or common law<br /> # if registered or pending.<br /> Identifying mark and scope of use if common law (products / geography).<br />
  10. 10. Abatement / Enforcement<br />Copyrights: registered or with rights pre-filing<br /> # if registered.<br /> Registered or not, need information on the work – samples, online, description, photo, design.<br />
  11. 11. Abatement / Enforcement<br />Trade Secrets<br />Uniform Trade Secrets Act protects: <br />information, including a formula, pattern, compilation, program, device, method, technique, or process, that: (i) derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons … and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.<br />
  12. 12. Abatement / Enforcement<br />Trade Secrets – Scheduling<br />Defined as submitted or by reference, so underwriting can understand scope and protection.<br />May not need to reveal actual secrets<br />Reference to recipe, formula or customer list<br />
  13. 13. Abatement / Enforcement<br />Foreign Equivalents ?<br />PCT’s ?<br />
  14. 14. Abatement / Enforcement<br />Must Have:<br />Ownership, <br />Right To Enforce or<br />Protectable Interest.<br />No “clouds on title.”<br />
  15. 15. Abatement / Enforcement<br />Ownership Issues?<br />Inventorship questions?<br />Shop rights / ex-employers or ex-employees?<br />
  16. 16. Abatement / Enforcement<br />NOT YET INFRINGED / NO COMMERCIAL ACTIVITY<br />Objective test:<br />Unauthorized INFRINGEMENT, or the manufacture, use, sale, of­fer for sale or the development to the point of being ready for sale must first begin during the POLICY PERIOD or during a previous continuously insured POLICY PERIOD<br />
  17. 17. Abatement / Enforcement<br />INSURE EARLY AND OFTEN<br />Patent applications as soon as filed<br />
  18. 18. Abatement / Enforcement<br />WHO IS A GOOD CANDIDATE?<br />Valuable rights? <br />% of actual or expected sales?<br />Current licensing revenues?<br />
  19. 19. Abatement / Enforcement<br />Best Candidates for Abatement:<br />Protecting advantage in market<br />Lacks ready cash or credit to self-fund<br />Recent experience with IP conflict<br />Licensor to well-positioned licensee <br /> who may be tempted to breach<br />
  20. 20. Abatement / Enforcement<br />Less Attractive Candidates for Abatement:<br />Patent holding companies<br />Business of finding existing infringers inconsistent with pre-existing exclusion.<br />
  21. 21. Defense<br />
  22. 22. Defense<br />Scheduled Coverage<br />Defined “Product”<br />Physical product<br />Process<br />Method of business<br />Trademarks<br />Product configuration / trade dress<br />Websites – technical and content<br />Software<br />Media <br />
  23. 23. Defense<br />Defining the “product”:<br />Schematics<br />Flow charts<br />Submit actual sample<br />
  24. 24. Defense<br />Defining the “product”:<br />Defined by insured’s own IP:<br />As “disclosed and claimed” in patent<br />Better to have specific claims than broad application claims<br />BUT: IP may not cover entire product to be sold<br />
  25. 25. Defense<br />Collections of “products”<br />Catalogs / .pdf’s<br />
  26. 26. Defense<br />With opinion supplied<br />Non-infringement opinion <br /> with specific IP distinguished<br />Relying on invalidity arguments<br />
  27. 27. Defense<br />Time on the market<br />Long time – lower risk<br />Emerging against well-established industries:<br />Insurable, but <br />Higher risk<br />
  28. 28. Defense<br />Source of products:<br />Develop own products?<br />Buy from others?<br />Diligence? <br />Chance to network with attorneys.<br />
  29. 29. Defense<br />Contract Requirements:<br />
  30. 30. Defense<br />Offering as benefit to customers<br />INSURED THROUGH:<br />
  31. 31. <ul><li>What are the applicant’s concerns?
  32. 32. Specific known risk?
  33. 33. Most important terms:
  34. 34. Price? SIR/Coinsurance? Exclusions?
  35. 35. Deal breakers?</li></ul>Tell Underwriters Up Front:<br />
  36. 36. Sellable<br />Would Write<br />Would Buy<br />On Market / Sales <br />Independent development<br />Risk management/clearance<br />Contract requirement<br />Competitive pressures<br />Insurable Risk <br />Copyist<br />Invalidity<br /> defense<br />Existing<br /> disputes<br />Business<br /> Risk<br />Low <br /> tech<br />Low<br /> sales<br />
  37. 37. Write More Business<br />

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