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With IPR insurance, you prepare for intellectual property infringements and litigation costs. Normally the registered rights are secure without an active action taken by the right holder. However, as the field of competition changes and due to regional and legal differences, there may be a situation where the rights need to be defended more actively.
WhyIPR insurance covers the litigation costs of intellectual property disputes and the financial damages caused by the infringements of intellectual property rights for which you are liable under applicable law. The insurance service is provided by our partner If P&C Insurance Company Plc, Finnish branch. A good IPR strategy on the current state of rights, management, exploitation and protection of rights should be made as early as possible. Risks and costs should be transferred and shared. Agreements should be carefully concluded to ensure, inter alia, that intellectual property responsibilities and indemnities are properly agreed upon. In these situations, the use of expert assistance is almost always justified. Adequate competitor monitoring and raising staff awareness of IPR risks will reduce litigation and unnecessary infringements of the intellectual property rights of others. Disputes concerning intellectual property rights in Finland and abroad, especially patents, can be very expensive and can last several years. The costs of defending rights can have a significant effect on the company’s liquid assets situation and thus on other activities. At worst, the impact may extend to the foundations of the company, jeopardizing thereby its whole financial situation. For this reason, litigation and legal fees in IPR disputes are often much higher than the damages that the court may award to the other party. A good IPR strategy, and IPR insurance in particular, provides security against these risks. Traditional legal expenses insurance does not cover the costs associated with these disputes. And most importantly, if the alternative is a lengthy legal process with an uncertain outcome, there will be a growing willingness on both sides to find a better settlement, such as a licensing agreement. The company should take out IPR insurance as early as possible. This ensures that all rights and related contracts and disputes are covered by the insurance. When a competitor is found to be infringing on their own patent or trademark, it is usually too late!
The customer will contact Boco IP regarding IPR insurance.
Boco IP's partner IF and Boco IP jointly make an IPR insurance offer to the customer.
Content of the IPR insurance
IPR insurance covers the costs of litigation and damages related to intellectual property rights.
The insurance remains valid at the customer's request for as long as the customer wishes.
Starting from a few hundred euros a year.
Extensive business in several market areas
Contact us, we will make an offer according to the desired scope.
Would you like to get a preliminary price estimate for a service that best meets your needs?
We provide our clients with comprehensive services where IPR is an integral part of a company’s strategy work and business.
Applying for and registering protection
Other legal services
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European Patent Attorney, Chairman of the board, Partner
Marja Liisa Autti
European Patent Attorney, Partner
European Patent Attorney
IP-Lawyer, Member of the Board, Partner
European Patent Attorney, Partner
IP Specialist, administration and formalities
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+358 40 538 7223
Consulting Director, Partner
+358 9 6866 8412