CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, announced today the launch of a new solution specifically designed to protect start-ups and small businesses from threats to their intellectual property (IP).
“SME businesses are disproportionately at risk of threats to their IP, but haven’t had access to appropriate cover,” says Maddi Brown, Intellectual Property Practice Leader at CFC. “For instance, it’s not uncommon for existing competitors to challenge the ownership of a start-up’s IP or to oppose the validation of their IP rights during the application process. These are common tactics used to slow down or eliminate new competition in the market and it can be really expensive and challenging for those small businesses to fight back.
“We’ve designed a comprehensive and easy to understand policy specifically for start-ups and SMEs that not only protects them against these types of incidents but any other threats to their IP. And we give the option of using a panel of expert IP lawyers to help them successfully navigate these contentious disputes,” continued Brown.
Protecting the patents, trademarks, copyrights and other IP that makes a business competitive and successful, CFC’s new IP solution covers defence and pursuit enforcement, oppositions, protection of loss of future profits and loss of IP rights – the primary IP battlegrounds.
With premiums starting from GBP/USD 1,000, the policy is designed for start-ups and other small businesses with a turnover of up to GBP/USD 20 million in a variety of industry sectors.
“Not only are CFC one of the biggest and most experienced IP insurance teams in the market, but we’ve also spent over 20 years serving SME businesses,” continued Brown. “We’re proud to offer our customers an easy to understand, affordable solution to this very real risk.”
CFC has also made it easier than ever for brokers to obtain a non-binding indication for IP cover online by providing just three simple pieces of information: the client company name, website and revenue.
Read more about CFC’s IPPE policy and how it would respond to real life scenarios here .
Learn more about CFC’s IP product suite here.
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