The benefit of intellectual property rights enable a company to invest in and reap the benefits of their creativity, innovation and branding, and prevent others from copying what they have developed.
However some brokers can find IP insurance complex and confusing. In this simple and easy-to-follow guide we explain the key areas of IP insurance and breakdown intellectual property into bite-size chunks.
In the guide, you'll learn:
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What is intellectual property?
IP is a broad term used to describe the legal rights arising out of intangible creations and assets, like a product or process, a piece of software, a brand or even a customer database.
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The coverages you need in a intellectual property policy
A standalone IP policy provides the most comprehensive cover. Don’t rely on a combined insurance policy to protect you from an IP dispute. IP coverage under other policies may be limited, likely excluding patents or trade secrets, and having restricted regional cover.
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Conversation starters
Simply bringing up the topic of IP insurance can set a broker apart. Rather than wait for a client to request IP insurance, here are a few questions you can ask to start the conversation.
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Common misconceptions
IP insurance can appear more complicated than it really is, check out these top four common misconceptions.
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Policies in action: Claims examples
A few claims examples involving infringement defense, oppositions and loss of future profits.
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Glossary
At CFC we keep intellectual property simple, we've included a handy a glossary of some popular IP lingo.
