Protecting Your Intellectual Property In The Tech Industry
Posted by Tech Insurance Solutions on
Client: IT Consultants, Website Developers and Programmers
Intellectual property is a legal concept that protects creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce, etc. The day to day operations of a technology professional provide numerous situations where the intellectual property of another can be violated either accidentally or intentionally.
Easypoint, LLC provides pay-per-click advertising and search engine optimization services. An employee of Easypoint created a pay-per-click campaign for a local business, Flowers-R-US. While developing the campaign, the employee used Flowers-R-Us’ competitor’s trademark in error.
The competitor, Flowers By The Bunch sued Flowers-R-Us and Easypoint, LLC for trademark infringement. The suit involved much investigation to determine how much business Flowers By The Bunch had lost including determining the number of impressions and click throughs that were received. Investigation and attorney’s fees totaled more than $275,000 and the suit settled for only $20,000.
WOULD YOUR INSURANCE COMPANY COVER THIS TYPE OF CLAIM?
Our agency has many fine companies that would. We specialize in solving insurance problems for the IT market. Give us an opportunity to solve yours. Email or call Mark Silliman, the #1 tech insurance problem solver at email@example.com or 678-822-0154.