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What does intellectual property insurance cover?
The policy provides cover for the policy owner in relation to:
Are only granted patents, trade marks or copyright covered?
No, applications can also be covered.
Do you need all the paperwork/drawings to be submitted for the IP quotation?
No. Once you complete our questionnaire, which includes a brief description of the IP along with the application or publication number, this will usually suffice.
Does the insurer pre-appoint a lawyer for any claims or can I appoint my own?
The insurer does not pre-appoint a lawyer to the policy, and in most instances the insured can nominate a representative at the outset of any claim.
What territories can be covered?
The coverage can only be for the territories the IP is used in. Insurers will offer a choice from UK Only, Europe, Worldwide excluding USA and Canada, Worldwide including USA and Canada.
What is passing off?
A common law tort, which can be used to enforce unregistered trade mark rights. The tort of passing off protects the goodwill of a trader from misrepresentation that causes damage to goodwill.
What is unfair competition?
Trade Mark infringement and passing off, which occurs when the maker of a product uses a name, logo or other identifying characteristic to deceive customers into thinking that they are buying the product of a competitor.