LOUISVILLE, Ky., Nov. 14, 2013 /PRNewswire/ -- As owners of intellectual property (IP), predominantly patents, the Biotechnology industry is particularly susceptible to others infringing their patent rights, as well others charging them with IP infringement for the products they are developing, which may have similar or even unrelated IP rights.
The Biotechnology industry ranks second, only behind the consumer products industry in the number of patent cases filed from 1995-2012. Given the rise in non-practicing entity (NPE)-generated IP litigation, the Biotech industry has not been spared, as NPEs, more times than not, have successfully fared through IP litigation against practicing entities in this industry.
Intellectual Property Insurance Services Corporation's (IPISC) president, Robert Fletcher, reminds, "No company or industry sector is immune to patent infringement. The Biotech industry in particular is replete with innovative know-how, which can easily be accredited to rapidly, evolving technology. Biotech companies continue to invest heavily in new product development, while significantly relying upon the value and importance of IP and their ability to protect it."
IP insurance is the solution. It provides the funds to successfully litigate through an IP lawsuit. 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 has remained the market leader and expert in the dynamic field of Intellectual Property (IP) Insurance by using advanced strategies to manage IP risks and protect the value of our clients' IP. We are committed to providing first-rate underwriting, insurance products and litigation management services.
SOURCE Intellectual Property Insurance Services Corporation