Intellectual Property Law
New Matter SUMMER 2014, Volume 39, Number 2
Content
- 2014 New Matter Author Submission Guidelines
- Case Comments
- Contents
- Copyright Interest Group
- Entertainment and Sports Law Interest Group
- Exploitation by Wrap ContractsâClick "Agree"
- In-house Counsel Interest Group
- Intellectual Property Section Executive Committee 2013-2014
- Intellectual Property Section Interest Group Representatives 2013-2014
- International Interest Group
- International Ip Developments
- Letter from the Chair
- Letter from the Editor-in-Chief
- Licensing Interest Group
- Litigation Interest Group
- MCLE Self-Study Article
- Ninth Circuit Report
- Patent Interest Group
- PatentsâClaim ConstructionâDe Novo Standard of Review Upheld
- Technology, Internet, & Privacy Interest Group
- The Law of the Land
- The Licensing Corner
- Trademark Interest Group
- How to Obtain Ip insurance or How to Watch Your Client's Back
How to Obtain IP insurance or How to Watch Your Client’s Back
Phil Green
Green & Green
Picture your client telling you that his or her company received a cease and desist letter and was then served with a lawsuit for infringement. As a conscientious attorney, the first thing you do is to check the IP insurance policy but you discover that your client decided to save money by not purchasing it at all. In that unfortunate situation, you would need to tell the client to settle, for it will very likely cost the client in excess of $120,000/month to defend. This article explores some of the major issues and ins-and-outs of obtaining IP coverage in order to avoid such a scenario. It suggests how to work through issues to the client’s best advantage. It also presents the question of whether, when and how to obtain the coverage available and some basic practice tips and broad advice about the different types of IP insurance policies and riders, barriers to obtaining insurance, important exclusions, and negotiation techniques to obtain the best coverage possible.