You may have worked hard to earn ownership rights over your intellectual property. So you may now want to protect it at all costs. This may entail buying into an insurance coverage plan. While you may be hesitant to take on this extra expense, this may be an investment worth your while. Continue reading to learn why you should insure your intellectual property and how an experienced New Jersey intellectual property insurance coverage lawyer at The Ingber Law Firm can work on your behalf.
Why should I insure my intellectual property?
Intellectual property may arguably be one of your business’s most important assets. For this reason alone, you may find it in your best interest to insure it.
In short, your intellectual property insurance coverage may compensate you if a third party places an infringement lawsuit against you and you subsequently incur legal fees and other damages. On the flip side, it may cover you if you ever need to pursue an intellectual property infringement claim against a third party.
Unfortunately, especially in this digital age, intellectual property infringement occurs more and more often. Thousands of these case types are filed each year, so it is unwise to assume that you will never land in this situation yourself. Ultimately, without the safety net provided by an insurance policy, the cost of dealing with your potential, future case may be financially crippling for you and your business. This may be specifically pivotal if you are a startup or small business owner and have personally invested in its success.
Why should I hire an intellectual property insurance coverage lawyer?
You must understand that not all intellectual property insurance policies are the same. You must interpret the policy’s language and terms correctly before proceeding. In other words, you must ensure that the scope of its coverage aligns with the exact type of protection you, your intellectual property, and your business need.
Understandably so, you may be overwhelmed with whether your insurance coverage selection was the right one to make. Well, you may rest easier knowing that an intellectual property insurance coverage lawyer may sit down with you and conduct a consultative review of your current plan. From here, they may either confirm that you made an informed decision or recommend you to a better-suited policy.
In addition, an intellectual property insurance coverage lawyer may assist you if you are already in the midst of your lawsuit proceedings. That is, they may negotiate on your behalf in seeking recovery from your insurance provider. Or, when deemed necessary, they may commence litigation proceedings against your insurance provider.
We strongly encourage you to retain the services of a skilled Essex County, New Jersey intellectual property lawyer. You may do so by scheduling a free initial consultation with The Ingber Law Firm at your earliest convenience.
