IP Insurance — What In-House Counsel Needs To Know

Law360, New York (July 29, 2011, 1:34 PM EDT) -- Intellectual property risk management has evolved into a formidable undertaking for many in-house counsel. Introducing innovative, highly prized merchandise may incite competitors to assert ambiguous intellectual property claims to explicitly derail a new product launch. Nonpracticing entities, or patent trolls, may assert tenuous allegations against core product(s) in an attempt to siphon money to them. Other competitors may start selling knockoffs of market-leading products despite relevant IP protection.

Whatever the situation, companies frequently, after the fact, turn to their IP counsel to determine if they have any insurance coverage in place to help fund the high cost of IP litigation. By...

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