INTELLECTUAL PROPERTY PRACTICE
- Defense against infringement allegations, and if unsuccessful in defending against them, loss of profit cover while the insured re-positions itself accordingly;
- Protects the insureds' IP and enterprise value by affording an opportunity to pursue infringers;
- Recovery of costs invested in pursuit of lost intellectual property.
SUM's IP is designed for companies of all types - features include:
- Comprehensive cover for all intellectual property including patents, trademarks, copyright and trade secrets;
- Broad cover for all operations of the insured, or tailored to specific needs;
- Defense and damage or settlement award costs covered, including counterclaims, product recalls and other loss mitigation measures;
- Cover for Directors and Officers as joined defendants to actions;
- Cover for contractual obligations to indemnify licensees or customers;
- Cost incurred to obtain or maintan a registered right if that right is invalidated or revoked as a consequence of an infringement action;
- Loss of profit for a 12 month period post loss of IP;
- Limited cover for elements of contract or employee disputes related to IP;
- Cover for costs to avert or mitigate loss of reputation;
- Worldwide cover is standard
- Limits up to $10,000,000 available, Deductible as low as $5,000 and Premium start at $3,250.00.