It is possible that the licensor may no longer exist at the time you would seek to rely on the indemnification provided. While it is obvious that high technology and manufacturing companies should be interested in intellectual property insurance, they are not alone. IP litigation is occurring in all sectors of the marketplace, and does not involve just large entities and high tech. More and more companies recognize that anything that differentiates them from their competition is subject to infringement, and that IP litigation is sometimes an unfortunate reality of a competitive marketplace. The LRM Solution is able to provide coverage for legal fees, expenses and damages, and coverage is available worldwide.
Coverage is designed to meet specific needs, on a transactional, product, or blanket basis.
Coverage can also be tailored to include third parties as additional insureds. This coverage is available even where the client already knows that infringement is occurring. It is somewhat similar to providing fire insurance coverage where the house is already on fire. After that analysis is performed, LRM is able to put a program in place for the client to enforce his position against infringers. The LRM Solution also includes relationships with many of the top-flight intellectual property licensing and litigation firms in the country.