A new idea, invention or a method is required to be protected from others. A patent is ownership right provided by the government for this protection. If you are patent holder, no other party can exploit your idea or invention without your permission. You are the only person having the right of capitalizing that idea by manufacturing or selling it. In patent infringement, a patent invention is made, used, sold, or imported without the permission of the patent owner. The patent holder can file a law suit for enforcing his patent.
Patent infringement is pretty common. Therefore, availing patent insurance coverage is important and beneficial for you as patent litigation can cost you millions. Following are the two types of patent insurances:
- The first one is the defensive policy which assists when a lawsuit is filed against for patent infringement.
- The second covers all litigation costs when you are filing a lawsuit against a patent infringer.
Depending on the requirements, some companies purchase the first insurance coverage and some opt for the second. However, companies following a comprehensive insurance approach avail the both patent insurances. If you do not know which insurance coverage you should avail then you can get professional assistance of experts of Unified Patents. This company offers NPE patent litigation insurance coverage to prevent you from the vicious cycle of NPE litigation.
Unified Patents 