Business Services Industry
What can risk managers do?(Brief Article)
Business Insurance, January, 2006
Given all the difficulties in obtaining insurance coverage for patent exposures, risk managers need to take aggressive steps to protect their companies against such lawsuits. First and foremost, they should ensure that experts who understand their products and services thoroughly analyze them for any hint of patent infringement, observers say.
If a company is sued for patent infringement that occurred before patent exclusions in CGL policies became the norm, the risk manager should check the company's previous policies to see if the wording is broad enough to force the carrier to defend, lawyers say. Companies should also create plans to design their products or services around any disputed patents. RIM, for example, has developed a contingency plan that it...
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