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SOURCE Intellectual Property Insurance Services Corporation
LOUISVILLE, Ky., Oct. 16, 2013 /PRNewswire/ -- The Bioinformatics field is continuously exploring new and better ways to manage complex, biological data by developing tools and improving on how they utilize and store information, enabling the end-user the ability to quickly and efficiently analyze the complex data.
The Bioinformatics industry relies heavily upon the perceived protection offered by intellectual property (IP) rights for its data, software, systems, databases and mining techniques. However, many in this field are start-ups and small companies, and lack the financial means necessary to enforce their IP rights or defend their products against competitors and patent trolls should they become involved in costly and time-consuming IP litigation.
IP insurance is the solution. It provides the funds to successfully litigate through an IP lawsuit. Only IPISC has been able to offer the market a full scope of IP-specific coverages including Defense, Abatement, Multi-Peril and Unauthorized Disclosure policies on a worldwide basis. IPISC has helped ensure that the funds and the litigation support have been available for the policy holder to get through the litigation process.
IPISC's president, Robert Fletcher, reminds, "Start-ups & small companies many times have a single or few issued patents that cover a product or service constituting a major portion of their income. These companies need IP insurance to protect their market share and deter exuberant or frivolous infringement charges. An IP policy also enables them to fill contractual IP indemnification obligations and to ensure funds will be available in the event of IP litigation against their customers."
IPISC has remained the market leader and expert in the dynamic field of Intellectual Property (IP) Insurance by using advanced strategies to manage IP risks and protect the value of our clients' IP. We are committed to providing first-rate underwriting, insurance products and litigation management services.
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