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Intellectual Property Infringement Abatement Insurance

Intellectual Property Infringement Abatement Insurance

Definition

Intellectual Property Infringement Abatement Insurance — coverage that reimburses insureds for legal expenses incurred when an insured enforces a patent, trademark, or copyright against infringers. Since the purpose of the policy is to pay legal costs required to enforce intellectual property rights, there is no coverage for damages suffered by the insured that result from the infringement (e.g., lost profits because a competitor infringed upon a valid patent). The rationale for this approach is that such damages are often, although not always, recovered when an enforcement action is brought against an infringer.

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