Insurance of intellectual property underlying technical developments in foreign legal systems

Currently, when intangible assets form a strategic part of a business, the intellectual property is the beginning of all potential market opportunities for a company. At the same time, a company whose intellectual property has been sued may be vulnerable to time-consuming and costly intellectual property litigation. The relevance of intellectual property insurance stems from the fact that it is an intellectual property litigation risk management solution that helps to mitigate the exorbitant financial costs/burdens associated with intellectual property infringement litigation or enforcing a court judgement. Intellectual property insurance policies cover the legal costs associated with the infringement of a company’s intellectual property, both in the case of prosecuting infringers and defending against claims brought by another company. The purpose of the study was to review the risks of bringing new technological products to the market, as well as to systematise information in the field of intellectual property insurance, namely technological innovations, both at the state level and at the level of insurance companies in foreign legal systems. In the work general scientific methods of research – methods of directed and systematised search, formal-logical, comparative and system analysis, systematisation and classification – were used. Information search was carried out using open sources of information. The final selection of materials was carried out by the method of expert evaluation by FIPS employees. The result of the work is a systematisation of information presented on foreign governmental sites and on the sites of insurance organisations regarding the directions of intellectual property insurance and options of organisation of this process. In our opinion, the most appropriate is the introduction of IP insurance for exporters of high-tech domestic products due to the high financial risks of introducing Russian goods to foreign markets. Due to the fact that IP insurance is not practically used in Russia yet, the above information will allow us to assess the prospects of introducing this measure of business support in our country both at the state level and on the part of insurance organisations. 

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