At last ordinary brokers will be able to offer Intellectual Property insurance to their clients. Often Intellectual Property rights are the principal asset of a company. Firms, irrespective of their size, need to be able to protect that asset, whether it be in the UK, EU or World-wide . It could be a company that’s just invented a new type of hair-brush; or a new type of software; potentially, most companies rely on some form of income from their Intellectual Property and awareness is growing for the need for relevant protection.

After studying a Green Paper on Intellectual Property submitted by the Danish Government to the EU, Camberford Law identified a massive untapped market. Companies had often recognised that their ‘trade secret’ or patent was valuable but were unaware that their legal rights could be protected using insurance.

Richard Sheikh, Camberford Law’s CEO explains:

"What is insurance all about? It is all about protecting assets -
and Intellectual Property is a gap we have filled in the broker's toolbox.
It's another tool for the broker, both large and small, giving access to
this specialist market to enable them to offer comprehensive protection to
their clients. It gives them the edge over their competitors.
   
“We selected Composite as the legal expenses provider because of their vast experience and expertise in the commercial legal expenses market.”

John Mullin, MD of Composite, adds:

“No longer does a firm or a company have to worry about things like the efficacy of confidentiality agreements – they have the weight of the law behind them alongside the legal expenses insurance we are providing as coverholder for the Camberford Law Intellectual Property Scheme.“

The product covers legal expenses incurred by the insured when either pursuing a claim against a third party who infringes their patents, copyright, trademarks or design, and equally defence of a claim where a third party alleges that the insured has infringed their Intellectual Property. Cover can be extended to include alleged breaches of licensing
agreements.

Note to editors:

Cover is flexible and, importantly, adaptable to suit, and be affordable, for anyone from individuals with a single patent, or companies wishing solely to protect their trademarks, to big corporations with a large schedule of patents.

The Scheme is supported by a simple quotation system and quick policy issue. Because this is a new field for many brokers, they can draw on Camberford Law and Composite’s expertise to help them better understand this market and sell the product.

John Mullin, MD, Composite Legal Expenses Tel:: 0871 423 5240 Email: john@composite-legal.com

Richard Sheikh, CEO, Camberford Law: 020 8315 5000

Nigel Dyer or Judy Kellie, Intelligent Marketing Tel: 01798 81 5687 Email: intelligentmktg@aol.comM arch 2005