Intellectual Property

Intellectual Property (IP) Insurance provides cover for your legal defence and pursuit costs in respect of IP rights and IP licence agreement issues. 

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Why this cover?

Are you worried about the high costs of defending your intellectual property (IP) or inadvertently infringing someone else's IP rights?

Benefits for your business

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IP Insurance covers you against infringement claims brought against you

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IP Insurance can provide funding to enforce your IP rights and pursue infringement claims

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What is Intellectual Property (IP) Insurance?

Intellectual Property (IP) Insurance provides cover for your legal defence and pursuit costs in respect of IP rights and IP licence agreement issues.

Typically, this will involve your rights regarding patents, trademarks, copyrights and trade secrets. It could also relate to a business idea, scientific discovery, inventions, designs, written material, music, data, or software. 

Why should I buy IP Insurance?

IP cover provides the funds that could help you stop people stealing or copying your product designs, names or brands, or things that you write, make, or produce.

As importantly, IP cover can provide the funds to help you defend yourself if you accidentally infringe someone else’s intellectual property. If you don’t think you could afford the costs of an action, and your IP is an important part of your business, then you should consider getting this type of insurance. 

What does an IP Insurance policy cover?

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An Opinion Only policy that allows a business to obtain a legal opinion about an issue

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IP legal expenses cover will pay the legal costs of bringing an IP action against a third party or to defend an IP action brought against you

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An IP package solution, which in addition to the above, will cover the damages awarded against you if you infringe someone's intellectual property rights

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After the Event cover, which provides funding for businesses that have not purchased IP cover or have purchased the Opinion Only policy.

Frequently asked questions

Can I use my own law firm?

This will depend on the insurer.

In some cases, the insurer will have preferred partners they will use. In other cases, they will allow you to use your own legal advisors, but this sometimes increases the excess.

What does ‘reasonable prospects of success’ mean?

As with all Legal expenses policies, the insurer will need to be confident that there is a reasonable chance that they can win the case.

Usually, based on information provided, an insurer will need a 60 percent likelihood of winning before they will provide cover for you to proceed with the action.

Does my intellectual property (IP) need to be registered?

This will depend on the type of IP and the insurer.

Why Clear?

Industry-recognised for being people-first, our team of specialists supports start-ups, SMEs, corporates, multinationals and individuals.

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Trade specialists

We offer broad and bespoke sector specialist insurance solutions for peace of mind.

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Chartered status

In recognition of our commitment to maintaining the highest standards of knowledge, ethical practice and guidance.

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Exceptional service

We're dedicated to providing exceptional customer service to respond proactively to the needs of our clients.

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