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LIVA M&A Insurance Services

IP Insurance

Intellectual Property insurance is designed to protect the entire IP portfolio or the unique products and services of a company. It can be customised to address specific intellectual property, specific products and services, or specific events.

Standalone IP Insurance policies provide broader cover for IP claims than other, more traditional, policies (such as E&O) and are designed for the catastrophic event that can result from an IP dispute. The insurance can also be tailored to cover IP indemnity obligations of a company provided by the company to its customers, vendors or other licensees.

Insured:

General IP Infringement Cover - the IP Holder.

Specific Historic Risk Cover - the IP Holder or a Seller or Buyer on an M&A transaction.

Policy Period:

The policy period is either:

- 1 year with an annual renewal option for unknown historic and future infringements; or

- A specified policy period, usually matching the statute of limitation for the specific historic risk.

Cost:

0.5% – 3% of the limit of liability.

Cover:

Insurers cover financial losses (including defence costs) suffered and loss of profits.

Coverage includes:

- Allegations of an IP infringement by a third party such as another business, previous employee or trolls.

- IP invalidation proceedings to protect the validity of a company’s IP rights.

- Contractual indemnification claims related to a company’s IP or its products or services under contracts with several parties (including licensees, licensors, customers and manufacturers).

- Enforcement of an IP claim – where reasonable prospect of success and commercially justified.

Required Documents:

- General IP Infringement Cover – LIVA’s IP questionnaire and additional information requests form the insurer.

- Specific Historic Risk Cover – Legal opinion outlining and assessing the legal risk and quantum of the loss.