In a global economy where innovation can be the difference between success and failure there are a large number of disputes between firms over their intellectual property rights. These rights include Patents, Trademarks and Copyright. Disputes can be extremely expensive, even before the case has reached litigation. At Prospect we can provide ‘Defense’ and in some cases ‘Pursuit’ coverage in relation to these rights as follows:
Defense – protecting your enterprise against legal costs and damages incurred when defending an action brought against you after inadvertently infringing the intellectual property of others.
Loss of Profit – protecting loss of profits due to an injunction against an enterprise that may have lost an infringement case. Loss of profits would be covered for a fixed period.
Pursuit – coverage providing legal expense cover should your enterprise wish to bring an action against someone that has taken and used your intellectual property without proper permission.
In many cases the intellectual property of an enterprise ensures its profitability and financial security. At Prospect we understand this and are on hand to assist in tailoring coverages that address the specific challenges faced by your operation.