About the Business
Congratulations, now you've secured your Patent, Trademark, Design or other intellectual property rights, you need to make sure you can protect them.
The hard truth about your IP rights is that they are only as strong as they are defendable, and this defence comes at a cost. The average cost of legal representation and experts in UK Patent disputes is unlikely to be less than £350k, and in larger more complex commercial cases this increases to £1.25m. (source: World Intellectual Property Organisation)
Most individuals or companies simply don't have the funds required to protect their IP against the risk of others exploiting their ideas. IP insurance provides this protection paying the legal costs in either pursuing or defending your IP rights.
Business Services
IP insurance
IP insurance covers the legal cost of pursuing and defending allegations of infringement for all intellectual property insurance.
IP insurance has two main uses, namely:
- To pay your legal costs in pursuing or defending your IP - up to the insured limit of the policy.
- To be used as a negotiation tool - putting you on equal financial footing with your opponent. If your opponent knows you can afford to litigate then they may re-consider the high court route, opting instead to negotiate.
A selection of the categories of cover available are:
Legal expenses:
- Defence cover - if the validity of your IP right is attacked by a third party.
- Pursuit - If a third party infringes your IP rights.
- Damages - If a dispute is unsuccessful.
- Licence agreements - If your product is on the market or out-licensed then this provides cover against you infringing a third party's IP rights.
- Representations & warranties- When IP rights are sold separately or as part of a corporate sale.
IP insurance is a basic and vital tool in creating, maintaining and defending your position in the market place.
The table below shows some of the products and premiums quoted in the past. Please note however that the calculation of the exact premium amount is based on numerous variables and it is therefore essential that you contact us for a tailored quote.
Location & Hours
25 Meer Street
