Willis Towers Watson
Patent infringements
What is it?
Intellectual Property Rights (IPR) simply refers to creations of the mind. IPR insurance protects the insured against claims arising from copyright, patent and trademark, industrial design rights and trade secret infringements.

In the U.S., patents are defined under Title 35 of United States Code. In the U.K., patent applications are classified by their technical content. As a myriad of patent classification schemes presently exist, the U.K. Intellectual Property Office applies the International Patent Classification (IPC) to all applications. Globally the World Intellectual Property Organisation (WIPO) maintains the IPC under the collection of alphanumeric codes.
Who should consider buying this insurance?
Any organisation that:

– Has developed a product and holds the patent
– Is presently trying to patent a product and/or
– Where the company have an inventive step that is not obvious to someone
    with knowledge and experience in the subject

Should think about how they manage their patents/patent processes and review their overall risk exposures in this area.

With continued globalisation, it is important for organisations expanding into new territories to consider whether their products infringe patents in these territories, even if they do not in their existing markets. Even small companies, who might only have fewer than five patents, are still exposed to the issues faced by global organisations with hundreds of patents.
How do we add value?
Our Professional Indemnity team encompasses a dedicated Intellectual Property Rights (IPR) team, which has extensive experience in handling various aspects associated with the broad spectrum of this sector. Our client base stretches from pharmaceutical companies and specialist technology companies, to global telecom organisations and companies involved in engineering and the oil and gas industry.

The IPR team have experience in handling specialist patent contingency transactions, such as "Hatch Waxman" placements on behalf of generic drug manufacturers who release their products onto the U.S. market. Additionally,
the team have been involved in working on several high profile specialist patent placements for global telecom corporations and well known Fortune 250 organisations across Europe and North America.

Our experience means that the team are regularly approached to provide consultancy advice on Mergers & Acquisitions (M&A) transaction, where
there are specific patent issues arising from the Sale and Purchase Agreement (SPA). The team is also actively involved in providing manuscript cover for clients and work very closely with outside law firms to develop
contract coverages.
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