What other services come with patent insurance?
Each patent insurance company has its own suite of services. In general, insurance companies want to minimize their risk exposure, so it makes sense for them to help you in many different ways.
Some companies will – for free, as part of your enforcement policy – send letters to possible infringers. These letters are from the insurance company, which signals that you have muscle behind you. Patent infringement lawsuits are often a big game of “chicken” where both sides threaten to “go the distance.” Once the infringer knows you are protected by insurance and your expenses are already covered, they are much more likely to settle sooner.
Many insurance companies will reimburse your attorney’s fees, but they want to make sure the attorneys have experience. They will not reimburse for any attorney who is willing to take your case, but will reimburse for experienced attorneys with former first-chair experience in Federal Court for your type of litigation. The insurance companies want you to win.
BlueIron will always help you with patent strategy and with evaluating the IP you already have. We invest in IP, so we look at your IP from the standpoint of value. We are always here to help you get the best value out of your IP.