Forums: Discussions for entrepreneurs and small business.

I have heard of this but that is all I know about it.
Has anyone here ever purchased any?
Thanks

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You may be wise beyond your years but still your years are few..................................... Consider all you`ve learned by now then multiply by two.................................................. You can`t replace experience life`s lessons just take time ................................................... Time is you see what separates mere grape juice and fine wine

I`ve had clients check into it and find it is pretty expensive.  The insurer is [obviously] in it to make money and does not want to left holding a huge liabiliby unless also receiving a hefty premium.

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James Lindon, Ph.D. Patent Attorney
Lindon & Lindon, LLC
Cleveland, Ohio
Patents, Trademarks, Copyrights, Pharmacy Law, Litigation
[this is not legal advice - provided for discussion only]
Intellectual Property for the Individual and Small Business: Identify, Protect, Enforce, Defend.
"Fools rush in where angels fear to tread."
http://www.LindonLaw.com

Patent insurance is a protection against infringement of patents and the costs associated with it. Patent insurance is of two types: Patent Liability Insurance and Patent Pursuance Insurance. Patent Liability Insurance is a defensive instrument, which helps the insured fight an infringement lawsuit filed by a rival company. It is also called 'Patent Infringement Defense Insurance'. In this case, the insurance company pays a part of the legal expenses incurred and/or the damages to be paid. Patent Pursuance Insurance on the other hand, is an offensive instrument, which aids the insured fight against a patent infringing company. This is also called the 'Patent Enforcement Insurance' or 'Offensive Patent Insurance'. In this case, the insurer pays a portion of the legal expenses incurred by the insured company.