LOUISVILLE, Ky., Sept. 18, 2013 /PRNewswire/ -- From dietary supplements to all-natural and organic foods and beverages, the Food & Beverage Industry, specifically the Nutrition Industry, is extremely competitive. It is made up of researchers and developers who are constantly on a quest to create the next innovative product aimed at improving overall nutrition and enhancing the quality of life. They recognize that these products must be protected by intellectual property (IP) rights, which are, and will continue to be, its competitive advantage.
This innovatively-focused industry is rapidly growing due to concerns over health care costs, an aging population and economic changes, all of which have contributed to its solid growth and subsequent litigation surrounding IP. Whether it's defending their products against predatory business practices of others, maintaining their place in the market, or enforcing their IP rights to prevent others from copying their ideas, making it their own and taking precious market share away, IP litigation is expensive and time-consuming.
IP insurance enables the policy holder to fund the litigation to enforce IP rights and/or defend against charges of IP infringement. This insurance ensures the policy holder can get through an IP lawsuit on the merits of the case, not on who has the deeper pockets to fund a lawsuit. Given its established track record of success, only IPISC has been able to offer the market a full scope of IP-specific coverages including Defense, Abatement, Multi-Peril and Unauthorized Disclosure policies on a worldwide basis. IPISC has helped ensure that the funds and the litigation support have been available for the policy holder to get through the litigation process.
IPISC's president, Robert Fletcher, reminds, "It is important for this industry in particular to understand that IP exposure can be a significant risk, yet many are not proactively advising or being advised about the availability of IP insurance. Assessing IP risk and ensuring that the right insurance protection is in place for this potentially devastating and costly exposure is essential to any company's overall financial survival."
IP insurance is quickly becoming the most logical and economical choice that this industry can make to ensure that the means are available to fund the high cost and consequences of IP litigation. For further information, please contact Janet Zahnd, Sales/Marketing Manager, at firstname.lastname@example.org, 502-855-5314, www.patentinsurance.com.
IPISC is the industry leader and expert in Intellectual Property Insurance. Because we have been in the business of managing risk and protecting the value of client's IP assets for over 23 years, we have developed products that use advanced strategies to become market leaders in the dynamic field of IP insurance. We are committed to providing you with top-notch underwriting, insurance products and services.
SOURCE Intellectual Property Insurance Services Corporation