IP Insurance by BlueIron
All of your intellectual property - patents, trademarks, copyrights, trade secrets - can be protected with affordable insurance products.
Enforcement insurance gives you the power to go after infringers who steal your patented invention or copy your trademarks. Defense insurance protects you when someone sues you.
Startup companies especially do not have the money to spend on patent enforcement, and could be put out of business with an incoming lawsuit. These insurance products protect the company and are essentially pre-paid legal fees for these special cases.
Many startup companies operate in very perilous intellectual property regimes. They may be unknowingly stepping on patents held by a big competitor or by a nefarious patent troll.
Disruptive startup companies who are breaking new ground WILL have copycats. That is why you get patents to cover your innovations.
Patent enforcement insurance will give you pre-paid legal fees so that you can go after those infringers. You have full control over the enforcement, and you can get a license, have them cease and desist, or do take some other action as you - and only you - decide.
We offer a wide range of patent enforcement and patent defense insurance, however, our main insurance provider is a program manager for a Lloyd’s of London syndicate that focuses on intellectual property insurance.
Absolutely. We know you have good relationships with your attorneys, and we are happy that you want to use them.
Our only requirement is that the attorneys have prior first-chair experience in intellectual property litigation in federal court. If your attorney does not have this experience, we are happy to recommend attorneys who do.
We do offer a discount if you use attorneys who we have previously vetted, but you are not required to use them.
With our patent enforcement insurance policies YOU control all aspects of how to enforce your patent.
Sometimes you may wish to strongly enforce their patent to prevent a specific competitor from operating in your space. Other times, you may want to obtain a license agreement from a competitor. Still other times, you may want to cross license your patent for a technology a competitor may have.
In every case, YOU control how the enforcement proceeds.
Patent insurance comes in two basic forms: patent enforcement and patent defense. Enforcement is where someone infringes your patent and you need to enforce your rights. Defense is when someone else accuses you of infringing their patents. This can be a competitor or a patent troll.
Enforcement insurance typically costs about 1% per year of the total amount of insurance. For example, $1,000,000 of patent enforcement insurance will cost about $10,000/year.
Defense insurance typically costs about 3% per year. $1,000,000 of patent defense insurance will cost about $30,000/year.
These amounts are guidelines, and your actual premiums will only be determined after due diligence and underwriting.