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Intellectual property insurance offers first-party" in relation to the protection against theft of trade secrets, breach of copyright and patent infringement. The insurance provides a payment for lost profits to $ 10 million, with a note option is also available, $ 2 million in additional litigation expenses.

Forms of intellectual property insurance:
Currently there are two types of insurance for intellectual property in the market. Firstly, there is against measures that are specifically for businesses that deal with the changing trends in its business in the technological and legal before. In most cases these types of companies are desperate for protection against liabilities, which are quite large and by their sheer weight may be the result of volatility. The companies are infringement procedures in the purchase, to smooth, because the result of exposure to an accidental injury to someone other intellectual property.

On the other hand, enforcement of the acquired companies, which view intellectual property as a first-party asset that should be protected. The fact remains that intellectual property theft can be violated and invalidated. The litigation in connection with the recovery of theft and infringement claims by most of the enforcement policy. coverage comes to a halt if the intellectual property is invalid.
What is intellectual property?
Intellectual property can be divided into four categories:

1) First, there is copyright to the original works of authorship, the constant in tangible media of expression. For example, literary works, including computer programs, pictures and graphics.

2) Secondly, there are patents, which will play a key role in the protection of the manufacture, use and commercialization of a patented article or process.

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4) Finally, trade secrets, which can be defined as the information that is generally kept as a secret, and there is its owner an advantage over competitors. For example, formulas, patterns, techniques and procedures.

Intellectual property is very crucial for all organizations, not only for large companies. It's just that the role of intellectual property changes on the basis of capacity of the company. For example, smaller companies have intellectual property for the knowledge and skills, their products or providing their services. It is noteworthy that smaller companies can be particularly vulnerable to attacks on their intellectual property so large, better-financed competitors to delete them from the market. That is the reason why the success or failure of these types of companies depend solely on the protection of their intellectual property.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com - The Small Business Consulting Community. Sign up for the free success steps newsletter and our booklet valued at $ 24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing companies.

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