Don’t Overlook Intellectual Property Insurance

The risk of intellectual property litigation in the golf industry is as high, or higher, than the risk in the “generic” average business. Further, face it … intellectual property litigation is expensive. In fact, the American Intellectual Property Law Association indicates that the average cost to litigate a patent infringement suit is in excess of $1 million!

That considered, how many of golf industry product producers have intellectual property insurance? Very few (I suspect). Yet, these same producers would laugh at a person that would dare suggest that the producer doesn’t need insurance on their building, or other physical assets (which are often worth far less than a company’s intellectual property assets).

Intellectual property insurance is now main stream. Read a complete article on intellectual property insurance here.