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In her latest risk management series in HFN Magazine, Shareholder Kristi Davidson talks protecting intellectual property though indemnification and insurance. With intellectual property litigation on the rise, she suggests that companies consider obtaining separate contractual indemnification provisions in supplier or distribution agreements that specifically target your intellectual property rights.

"According to a cost study conducted by the American Intellectual Property Law Association, the average litigation costs for a patent infringement suit range between $767,000 and $2,645,000,” she explains in her column.

Davidson suggests approaching specialized carriers to look into intellectual property coverage in your commercial general liability policy to make sure that when buying insurance you “don’t give up a substantial part of the claims control you fought so hard to attain through your carefully crafted intellectual property indemnification agreement.” 

Read the full article – “Risk Management 101: Protecting Intellectual Property Through Indemnification and Insurance” (HFN Magazine, April 30, 2014)