LOUISVILLE, Ky., April 30, 2014 /PRNewswire/ -- Intellectual Property Insurance Services Corporation (IPISC) graciously accepts a share of the credit as it congratulates Octane Fitness, LLC, for its unanimous patent victory in the United States Supreme Court, announced yesterday, April 29, 2014.
Octane was sued for infringement by one of its competitors. Because patent litigation is so expensive, Octane was at risk of being driven out of business; however, Octane was prepared to defend itself since it had purchased patent defense insurance through IPISC. The insurance pays legal fees to defend the policyholder if sued for infringement.
IPISC is proud to be Octane Fitness' insurance partner, by having covered their products and provided the funds to litigate to a favorable conclusion. The insurance is a "must have" for everyone, because everyone selling a product or providing a service is at risk of being sued for infringement.
IPISC has remained the market leader and expert in the dynamic field of 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.
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.