Posted on August 17, 2023
Hi everyone, I’m J.D. Houvener, the host of the Bold Today Show, where you, the inventor or entrepreneur, find daily inspiration to make the world a better place. [Music]
Today, we’re discussing the various types of IP insurance available for protecting your interests, whether you’re an inventor or someone engaged in business. These insurance policies serve as valuable tools to help you understand your rights and avoid potential legal battles that could drain your resources and hinder the monetization of your invention.
Looking ahead to next week’s topic, we’ll delve into trade secret law. There is, in fact, an insurance policy designed to safeguard against the misappropriation of trade secret information. This policy becomes crucial when your company identifies certain information as trade secrets. If this information were to be leaked or disclosed—due to an employee departure, for example—you risk losing the benefits associated with trade secret status.
In such cases, pursuing legal action, either under the federal Defend Trade Secrets Act or in state court, can be a challenging and costly process. A trade secret misappropriation policy can cover these legal fees, providing a safeguard against potential losses.
This type of insurance policy is relatively new, and our firm can introduce you to some options available. If you’re interested in learning more, please give us a call.
I hope you have a wonderful weekend ahead, and I look forward to talking with you next week. Take care and have a good one. Go big, go bold.
