What is Intellectual Property Insurance?
Intellectual Property (IP) insurance protects the IP rights held by insured businesses, based on a selection of the exposures including defence, enforcement and contractual agreements. Increasingly, IP is being recognised as a primary asset held by organisations because it can underpin all aspects of a business.
The policy protects what, for many startups, is their largest single asset underpinning the entire business, without which the organisation may be unable to continue operations. IP insurance can also support your startup’s business model by demonstrating the strength of your IP, demonstrating to existing and potential investors the security behind your startup’s IP to protect their investment.
Key protection features of our Intellectual Property policies:
- Legal costs to engage specialist legal representation
- Damages awarded against (includes compensatory damages, past royalties, or account of profits)
- Legal costs of third party (adverse costs)
- Recall costs (retrieval, withdrawal from sale, recovery for destruction as required or agreed)
Intellectual Property is one of the largest risk exposures and needs the same protection as a startup’s physical assets. Our team at Startupcover has extensive experience to protect the IP rights of our clients.
Startupcover assesses the risks of your startup and offers the appropriate policies suitable to your needs.