Compare IP (Intellectual Property) Insurance with Buckingham
Buckingham Insurance can take the leg work out of comparing insurance cover options for your business. We will search out suitable covers based on your needs and provide you with a range of quotes from a range of leading UK insurers. Where required, we’ll be on hand to talk you through policy wording and ensure that the cover being offered suits your needs precisely.
An Intellectual Property Insurance policy protects UK registered companies, firms or individuals for copyright, trademark or patent infringement claims arising out of the company’s operation. It pays the defence costs and any judgement up to the policy limits.
When do I need Intellectual Property Insurance?
If there is a possibility that your business could be sued for infringing the intellectual property of another business, competitor or individual then you should consider the protection provided by an Intellectual Property Insurance policy.
You can take out the insurance to protect your trademark or patent as long as you are not aware of any known infringements or violations. In practice this will mean that you can demonstrate that you have completed an Intellectual Property search, or have already filed a registration for a trademark, service mark, copyright or patent.
What cover does an IP Insurance policy provide?
IP Insurance policies provide a range of covers and protection including:
- Legal expenses cover for defence or enforcement of your rights
- Cover for the cost of damages should your defence be unsuccessful
- Cover for costs associated with expert witnesses, enquiry and attendance expenses
- The cost of claims made against companies outside of the UK (if action is permitted by UK law)
- Cover for the Customs and Excise fees for the surveillance of imports to identify counterfeit goods
Cover can vary between policies, so talk to our specialist team to find the right policy to suit your business.
Why is Intellectual Property Insurance important?
Intellectual Property claims are on the rise and the costs associated with either defending or enforcing copyright, patent or trademarks can be significant and far beyond the means of many companies. Defending an action brought against your company by a competitor could be financially crippling, so an Intellectual Property Insurance policy is designed to cover these costs.
Why use Buckingham Insurance for you Business Insurance?
Buckingham Insurance has been providing businesses across Derbyshire and South Yorkshire with invaluable, trusted advice and service for almost 40 years. With a heavy investment in staff training and leading technology, together with good old fashioned close relationships with both our Insurer partners and clients, we pride ourselves on competitively priced, quality cover backed up by first rate service.
If you have a specific Business Insurance enquiry and want efficient, friendly advice and quotations, simply call us on 01246 575 625 or use our enquiry form.