What are Intellectual Property Infringement Liability Risks?
Intellectual property infringement risks include the risk of infringing any patent, mark, copyright, design, domain name, or miscellaneous intellectual property rights.
Intellectual Property Defence
Cover is provided for the legal fees and expenses or damages (including settlements) or both.
WHO SHOULD BE BUYING THIS COVERAGE?
Any company who designs, manufactures, sells or supplies a product may inadvertently infringe on third party intellectual property rights and incur liability. Even if they are only supplying a product that has been designed and/or manufactured by a third party, they can still incur liability for contributory infringement. Those entities with a US exposure could find their legal expenses and court awards are significantly higher.
Typical industry sectors seeking cover include:
Software & Hardware
Pharmaceuticals & Life Sciences