What is Patent Infringement?
Patent insurance is a form of intellectual property insurance. Patent insurance is meant to protect the patent holder in the even that a third party infringes up on the r patent, or intellectual property, and causes the patent holder a financial loss.
There are two types of patent infringement insurance:
- A defensive policy will assist an insured if they have been sued for infringing upon someone else’s patent or intellectual property.
- Patent litigation insurance, also known as patent abatement insurance, covers legal costs associated with defending a holder of a patent or someone’s intellectual property if they have to sue someone else for patent infringement.
What is the cost for Patent Insurance?
On average, patent infringement lawsuits cost around $2.8 million if the disputed idea is worth anywhere from $1 million to $25 million. Damages are usually around $9 million. Premiums for patent infringement insurance can range from $10,000 to over $50,000 annually and are based on a number of factors.
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Patent Infringement Specialists
SciTech Insurance Pros is a specialized Patent Infringement Insurance Agency located in San Antonio, Texas. We provide tailored insurance solutions to each and every one of our clients since we are an independent agency.
We serve San Antonio, Austin, and Dallas areas as well as throughout Texas, California, Washington, and many other states nationwide.
We provide specialized coverages such as Professional Liability Insurance, PCI Compliance Insurance, Product Liability Insurance, Technology Insurance, Clinical Trials Insurance, Cyber Insurance, Patent Insurance, and many more.
SciTech Insurance Pros is more than an insurance policy, we are your gateway for securing and protecting your Business. Call us at 210-545-5100
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