2010 dlp1 acc luncheon 08 10 2010
DESCRIPTION
Presentation to Association of Corporate Counsel on What Every Corporate Counsel Should Know About Insurance and Intellectual PropertyTRANSCRIPT
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INSURANCE AND IP
Presented By:
David L. Pardue
Swift, Currie, McGhee & Hiers
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“About half the practice of a decent lawyer is telling the
clients they are damned fools and should stop.”
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American Intellectual Property Lawyers Asso. 2007 Survey
Average Costs, Patent, Trademark, Copyright Litigation
Patent: $ 2 million
Trademark: $ 700,000
Copyright: $ 600,000
Trade Secret: ?
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Top Mistakes Companies Make Re: Insurance
1. Companies do not tender insurance claims for intellectual property or antitrust. These are the most under-tendered claims in America.
David Gauntlett
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Top Mistakes Companies Make Re: Insurance
2. Companies rely on insurance broker’s analysis of complex insurance policy language regarding intellectual property and antitrust claims. Further, insurance brokers give perfunctory verbal analysis of these complicated claims.
David Gauntlett
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Top Mistakes Companies Make Re: Insurance
3. Companies do not read their insurance policy language thoroughly.
David Gauntlett
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DUTY TO DEFEND
V.
DUTY TO INDEMNIFY
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D. H. Pace Company d/b/a “Overhead Door Company of
Atlanta”
v.
American Overhead Garage Doors, Inc.
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Allegations1. Google search leads to sponsored
link with heading “Overhead Doors in Atlanta”
2. Domain name <<overheaddoorsatlanta.comoverheaddoorsatlanta.com>> confusing with <<overheaddooratlanta.comoverheaddooratlanta.com>>
3. Phrase “Welcome to Overhead Doors Atlanta” on website unfair
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Compare Compare
ISO 2001CG00011001ISO 2001CG00011001
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WithWith
ISO ISO
19981998CG00010798CG00010798
No No IPIP
ExclusionsExclusions
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Stand AloneCoverage for Trademark, Patent, Copyright,
or Trade Secret Abatement or Defense
IPISC• Intellectual• Property• Insurance• Services• Corporation
The only place in the U.S. for patent and trade secret insurance.
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Cyber Insurance
• Cyberspace Policies– Claims – defamation, invasion of privacy,
misappropriation of name or likeness, alleged, violation of IP rights in covered media.
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Cyber Insurance
• Net Secure Policies– Inadvertent mistake, error or omission in
the creation, distribution, installation maintenance, modification, processing repair, testing or use of computer system, spread of computer virus, other forms of interruption to electronic information processing systems.
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IPO’s as LicensorsKey Questions:1. Is your licensee insured?2. Is insurance adequate?3. Is your company named as an additional
insured under the policy?4. Does your license agreement require their
insurance to step up before your indemnification provisions are covered?
5. Are indemnification issues covered under the patent owner’s policies?
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David L. Parduedavid.pardue@swiftcurrie
.com404.888.6131