Intellectual property often has more complicated risks than physical property — and that can lead to confusion.
Yet, it’s critical that companies understand their exposures to protect themselves from costly litigation. Risks include third-party claims of infringement on a patent by a competitor or a non-practicing entity, alleged trademark or copyright infringement and trade secret misappropriation cases.
IP insurance helps cover legal fees, damages and settlements when companies need to defend against infringement claims or enforce their own IP rights.
The slideshow above highlights three common misconceptions about IP insurance according to Aon.
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