WHAT ARE YOUR IP RIGHTS?
What are your IP Rights?
Your trading style or name, a copyright you have created or an invention you have patented; all generated from your hard work and at significant cost to you.
How do they add value to your business?
IP right’s are hot, due to the increasing volume of business sales over relatively short-term periods, when purchasers and their funders demand to see evidence of properly protected IP rights, before paying full value.
Large corporations, for example Coca-Cola, show the value of IP rights on balance sheets and the activity amongst valuers of IP rights suggests more businesses will follow this lead, because it demonstrates the true balance sheet worth of a business for borrowing, as well as sale purposes.
What can you do about it?
As a regional leading broker we have recognised this growing trend and have worked together with a regional leading business law firm, BPE Solicitors, who regularly deal with the issues of sale, protection and enforcement of IP rights, to identify an insurance product for our existing and new clients.
Our approach is recommended by the Institute of directors, who on their website specifically advise businesses to consider insuring against the cost of enforcement of IP rights.
Why Insure?
This insurance product enables clients with IP rights to insure against the cost of High Court litigation needed to protect IP rights, which most businesses will not budget for and in our experience often cannot afford to pursue, thereby losing part or all of the value of their business.
Can you afford to insure your IP rights?
Perhaps, the real question is can you not afford to do so? If your IP rights are central to your business needs, what would you do if you lost them to a competitor?
The good news is that we have negotiated sensible commercial rates with a well-respected underwriter. These costs should be easy to absorb into your business overhead and as an investment for the future of your business, would be similar to the cost of Key Man insurance.
Interested? Want to know more?
Contact – Gill Moore or Max Hardman – Brunsdon Westinsure
Telephone 01793 536851 Facsimile 01793 480306
E-Mail ip@brunsdonwestinsure.com