Is it Time for a look at IP Insurance?
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Is it Time for a look at IP Insurance?

One of the classic problems of our time, is the one of Intellectual Property (IP) use.

It is a difficult proposition for a small IP provider to guarantee the function of their IP to customer.

It is potentially an even larger risk that a third party may sue on legal grounds. It is this second area that I will address. The amount of indemnification that any ASIC sized project may requires,  is often larger that the net worth of the IP provider.

Conversely, the small IP providers are often able to offer new IP sooner than some of the larger providers.

So what I propose is to attack this problem in a classic way.

The first step is to  educate some forward looking underwriter(s) (who have the reserves and legal teams to back up their business) in the art of IP.

Then we need to introduce the underwriter(s) to the IP providers. The outcome that I am looking for is a process in which the IP providers show the underwriters that they have followed a process that enables the underwriters to establish a fair risk assessment of the IP. (from a legal point of view.)

Once this is in place, then the IP provider could offer significant levels of legal IP protection with the underwriter guaranteeing this protection. ( In other words, IP insurance )

What do you think of this idea?

Gerry Vandevalk

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