Ip insurance

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Ip insurance

  1. 1. IP INSURANCE PRIYANGA. G ALTACIT GLOBAL
  2. 2. TRADITIONAL INSURANCE POLICIES
  3. 3. <ul><li>Intellectual Property Insurance </li></ul><ul><ul><li> It is a solution designed to protect a company’s most valuable assets… intellectual property. </li></ul></ul><ul><ul><li> It covers your business for the legal cost of pursuing infringement of your IP. </li></ul></ul><ul><ul><li>It also pays to defend you against </li></ul></ul><ul><li>allegations of infringement . </li></ul>
  4. 4. Factors responsible for claiming IP insurance Nature of IP and related rights. Owner of the IP. Utilization of IP in business. History of IP disputes if any. Anticipatory IP disputes etc.  
  5. 5. 1. INFRINGEMENT POLICY 2. ENFORCEMENT POLICY <ul><li>BROAD CLASSIFICATION OF IP INSURANCE COVERAGE </li></ul>
  6. 6. <ul><li>INFRINGEMENT POLICY </li></ul><ul><li>This policy comes to your rescue when your company is sued for infringing the IP of another company. </li></ul><ul><li>This policy is purchased by many companies in order to smooth earnings due to exposure to an inadvertent infringement of somebody else’s IP </li></ul>
  7. 7. <ul><li>ENFORCEMENT POLICY </li></ul><ul><li>This policy protects the company’s IP from third party infringement. It is also known as “Pursuit policy”. </li></ul><ul><li> This policy covers litigation expenses and share in the recovery of theft and infringement claims. </li></ul><ul><li>If the IP gets invalidated, coverage will terminate and expenses paid to date must be returned to the company. </li></ul>
  8. 8. 1.PATENT INSURANCE POLICY 2. COMMERCIAL GENERAL LIABILITY POLICY 3. INTERNET RELATED INSURANCE POLICY 4. IP INFRINGEMENT ENFORCEMENT INSURANCE 5. IP DEFENSE INSURANCE POLICY 6. IP AFTER THE EVENT INSURANCE POLICY 7. EXCESS LIABILITY INSURANCE 8. IP EXPLOITATION AGREEMENT 9. IP ASSET PROTECTION POLICY <ul><li>VARIOUS IP POLICIES </li></ul>
  9. 9. PATENT INSURANCE POLICY <ul><li>It is the protection against infringement of patents and the cost associated with it. </li></ul><ul><li>Two types of Patent Insurance Policy: </li></ul><ul><ul><li>1. Patent Liability Insurance. </li></ul></ul><ul><ul><li> 2. Patent Pursuance Insurance. </li></ul></ul><ul><li>This policy covers liability for </li></ul><ul><ul><ul><li>1. Defense expenses </li></ul></ul></ul><ul><ul><ul><li>2. Legal Attorney cost </li></ul></ul></ul><ul><ul><ul><li>3. Cost incurred defending injunction </li></ul></ul></ul><ul><ul><ul><li>4. Injunctions and appeals </li></ul></ul></ul><ul><ul><ul><li>5. Damage Awards including settlement payment. </li></ul></ul></ul><ul><ul><ul><li>6. Lost royalties </li></ul></ul></ul><ul><ul><ul><li>7. Profits and cost </li></ul></ul></ul>
  10. 10. Commercial General Liability Policy <ul><ul><ul><ul><ul><li>It provides coverage of wide variety of risks, bodily injury and damage to physical property. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Simple Fresh Fruit Inc. V. Continental Insurance Co.,(1996) </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>The question that arose here was, whether IP infringement would also be covered under this policy. But the court held the following; </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>1. Patent infringement are not covered under this policy. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>2. It covers all others like Copyright infringement, Trademark infringement, trade dress infringement, Actions relating to Trademark infringement providing coverage for advertising policy. </li></ul></ul></ul></ul></ul>
  11. 11. INTERNET RELATED INSURANCE POLICIES <ul><ul><ul><ul><li>Risk management policy for companies that do online business on the internet. </li></ul></ul></ul></ul><ul><ul><ul><ul><li>This policy helps to get coverage for </li></ul></ul></ul></ul><ul><ul><ul><ul><li>a. Copyright Infringement </li></ul></ul></ul></ul><ul><ul><ul><ul><li>b. Trademark infringement </li></ul></ul></ul></ul><ul><ul><ul><ul><li>c. Defamation </li></ul></ul></ul></ul><ul><ul><ul><ul><li>d. Violation of privacy </li></ul></ul></ul></ul>
  12. 12. IP Infringement Enforcement Insurance <ul><ul><ul><li>This policy funds the Plaintiff against IP infringer. </li></ul></ul></ul><ul><ul><ul><li>Provides cost for prosecuting an infringing action including; </li></ul></ul></ul><ul><ul><ul><li>1. Attorney fee </li></ul></ul></ul><ul><ul><ul><li>2. Expert witness fee </li></ul></ul></ul><ul><ul><ul><li>3. Court fee </li></ul></ul></ul><ul><ul><ul><li>4. Cost for defending counterclaims </li></ul></ul></ul><ul><ul><ul><li>This policy does not cover liability for judgment or damages. </li></ul></ul></ul><ul><ul><ul><li>Requirements: </li></ul></ul></ul><ul><ul><ul><ul><ul><li>Suit must begin during the policy period. </li></ul></ul></ul></ul></ul><ul><ul><ul><ul><ul><li>Opinion from an independent attorney that the claim is legitimate. </li></ul></ul></ul></ul></ul>
  13. 13. IP Defense Insurance Policy <ul><li>This policy provides the funds to fight the legal battle when you are accused of IP infringement </li></ul><ul><li>It also acts as a Indemnity Insurance Coverage. </li></ul><ul><li>IP after the event Insurance policy </li></ul><ul><li> The policy covers reasonable expenses, fees and disbursements incurred by an approved legal representatives appointed to act in relation to insurance claim including legal expenses incurred in pre-court proceeding. </li></ul><ul><li> It may also cover the damages the insured is liable to pay as a result of IP litigation. </li></ul>
  14. 14. Excess Liability Policy <ul><li>The insured is protected from losses by providing additional insurance over a variety of other primary liability policy . </li></ul><ul><li> IP EXPLOITATION AGREEMENT </li></ul><ul><li> This policy covers legal expenses incurred when pursuing or defending legal claims for breach of an agreement relating to exploitation of IP rights like licensing, confidentiality clause, indemnity clause, Warranty clause. </li></ul>
  15. 15. IP Asset Protection Policy <ul><ul><li>This policy covers against loss in revenue stream from IP or IP rights as a result of Unsuccessful defense. </li></ul></ul><ul><ul><li>This reimburses the R & D cost, Loss of Profit etc. </li></ul></ul>
  16. 16. THANK YOU

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