More than ever before, intellectual property claims involving infringement of patent, copyright and trademark are being filed and litigated at a tremendous cost to both parties. The majority of companies that have developed and maintained valuable intellectual property often lack the financial resources to either defend or enforce it.
Here at COVER360 we provide coverage for intellectual property exposures, with an emphasis in the area of patent infringement.
This policy will provide defense coverage for the insured in the event of a patent infringement suit and, in the event of liability, will pay damages, including prejudgment interest.
This coverage is for defense only and does not pay any damages under the contract.
Known as "infringement abatement insurance" or "enforcement" coverage, this policy is designed to reimburse the insured for legal expenses associated with pursuing an infringement party.
Here are some benefits for why we should buy these policies