I talked about Patent Infringement Rik in my 2004 paper-Covering Patent infringement risks in technology transfer agreements, advocated insurance as solution.
This article analyses the emerging scenario; closing gaps between Indian lab transactions and state-of-art, liberal interpretation of patent infringements by US courts, aggressive patenting strategies of MNCs, globalisation of operations by Indian licensee’s and advocates a mechanism to convert `uncertainty’ into `risk’ and covering of `risk’ with insurance.
The Intellectual Property Office of Singapore (IPOS), Lloyd’s Asia and Antares Underwriting Asia announced ( June 2019) a new initiative to support innovative enterprises as they enter global markets. Called the Intellectual Property Insurance Initiative for Innovators (IPIII), it will give innovative enterprises insurance coverage for legal expenses that may be incurred in intellectual property (IP) infringement proceedings worldwide.Under IPIII1, enterprises and innovators with a Singapore patent, trademark or registered design can take up an insurance policy with substantial cost savings that pays the legal costs of enforcing IP rights or defending against allegations of IP infringement.
More information on IPIII and Antares’ IP insurance policy at www.ipos.gov.sg/protecting-your-ideas/ip-insurance and
www.antaresunderwriting.com/intellectual_property_insurance/ respectively.
The policy pays the legal costs arising from: • Allegations of infringement of your intellectual property - cover for legal fees to pursue a potential infringer • Allegations of infringement of someone else’s intellectual property - cover for legal fees to defend an allegation of infringement • Allegations of infringement against your licensee - cover for legal fees to defend an allegation of infringement made against a licensee • Disputes between you and your licensee - cover for legal fees to ensure a licensee performs within the terms of their licence agreement.
The insurer gives 20% discount under this policy.
This article analyses the emerging scenario; closing gaps between Indian lab transactions and state-of-art, liberal interpretation of patent infringements by US courts, aggressive patenting strategies of MNCs, globalisation of operations by Indian licensee’s and advocates a mechanism to convert `uncertainty’ into `risk’ and covering of `risk’ with insurance.
The Intellectual Property Office of Singapore (IPOS), Lloyd’s Asia and Antares Underwriting Asia announced ( June 2019) a new initiative to support innovative enterprises as they enter global markets. Called the Intellectual Property Insurance Initiative for Innovators (IPIII), it will give innovative enterprises insurance coverage for legal expenses that may be incurred in intellectual property (IP) infringement proceedings worldwide.Under IPIII1, enterprises and innovators with a Singapore patent, trademark or registered design can take up an insurance policy with substantial cost savings that pays the legal costs of enforcing IP rights or defending against allegations of IP infringement.
More information on IPIII and Antares’ IP insurance policy at www.ipos.gov.sg/protecting-your-ideas/ip-insurance and
www.antaresunderwriting.com/intellectual_property_insurance/ respectively.
The policy pays the legal costs arising from: • Allegations of infringement of your intellectual property - cover for legal fees to pursue a potential infringer • Allegations of infringement of someone else’s intellectual property - cover for legal fees to defend an allegation of infringement • Allegations of infringement against your licensee - cover for legal fees to defend an allegation of infringement made against a licensee • Disputes between you and your licensee - cover for legal fees to ensure a licensee performs within the terms of their licence agreement.
The insurer gives 20% discount under this policy.
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