This story was originally featured in the December/January issue of IP Magazine. You can read the full article here or get in touch with ip@cfc.com to find out more. Below is a excerpt from the piece:
The global pandemic has served as a wake-up call for many; having to lock up their premises and move to a work from home environment has forced them to re-assess the importance of their intangible assets and afford them the same level of protection as their bricks and mortar. Those companies who hadn’t perhaps realised the value of the IP within their business – whether the IP is their brand, their creativity or their products and services – are now looking at how they can protect it within the new ‘norm’ in which we find ourselves.
The demand for IP insurance has been increasing as businesses become more aware of the threat not only to their own IP, but also the potential that they may face a claim of infringement by another company.
Another benefit to IP insurance, which has perhaps flown under the radar, is the protection it can provide against affirmative exposures that arise in obligations under contracts. Most businesses do not produce final products these days. They are instead developing solutions and products that form part of a bigger end product, and through this chain, contractual exposures arise.
And there is a further often unrecognised benefit of IP insurance; in addition to a business registering its IP, insuring it can help to secure funding from would-be investors.
To fully understand the full benefit of this valuable insurance, you can read the full article here or get in touch with CFC's IP team.
