Intellectual property lawsuits are expensive to defend, with costs ranging from around $20,000 for simple trade secret cases to multiple millions of dollars for complicated patent suits – and those numbers are what a small efficient firm like ours charges. If you want to work with a giant firm, you are going to pay a lot more.
However, if you can procure insurance coverage through your general liability policy, or another policy that you have paid good money for, it will be your insurance company, and not you, that will cover the cost of your defense. For many smaller companies, this can make the difference between being able to fend off a lawsuit, and having to accept an overvalued settlement from an aggressive plaintiff.
Unfortunately, many companies assume that intellectual property and technology related lawsuits are not covered by their insurance policies. However, this is not necessarily the case. In fact, we have been successful for procuring coverage for our clients in many different circumstances, including multiple patent lawsuits.
If you have been threatened with a lawsuit, or have actually been sued, we would love to work with you, not only in helping you defend the lawsuit, but also in helping you procure as much coverage as possible for your case, so that you can defend your case with the least out-of-pocket costs possible.
If you have a question about I.P. insurance coverage, please feel free to reach out to us via telephone or email. You may also fill out our online inquiry form and we will strive to get back to you within 24 hours.