Powerful Solutions to Help Protect Against Growing Risks
Consider the Landscape
Intangible assets, which make up 90 percent of the value of the S&P 500, have become the foundation of our global economy1. This has significantly changed the business risk landscape, where businesses now face the growing challenge of recognising, preserving and protecting the value created by their intangible assets, including their intellectual property (IP).
Did you know?
Over the past 10 years, average damages for an IP case have been $48 million with a median of $2.6 million, and legal costs to go to trial range from $771,000 to $5.8 million2
How can Aon Help Clients Mitigate Their Risks?
Aon’s leading IP Risk solutions are designed to help businesses quantify, mitigate, transfer and recover from IP losses. With IP liability insurance, you can help protect your business from liabilities, contractual issues and certain other losses resulting from allegations of intellectual property infringement, intellectual property contractual indemnity matters, and challenges to your intellectual property.
Why Work with us?
Aon’s global team of nearly 200 IP professionals – one of the largest in the industry – brings the unique ability to analyse IP risk at speed and scale, making it easier to obtain coverage. By combining our extensive IP experience with advanced data and analytics, we help our clients be better informed and better advised to make better IP protection decisions.
Aon’s Pre-Negotiated IP Liability Insurance Policies Can Offer:
- Coverage for certain litigation expenses, settlements and damages
- Reimbursement of certain costs and expenses resulting from challenges against the insured’s IP rights
- Contractual indemnities provided to a third party
- IP rights around the validity, title and ownership of the insured’s IP assets
- Appeals and counterclaims
- Coverage can potentially include a business’s entire operations, or it can be limited to specific products, processes and services
- Loss mitigation
- Non-practicing entities (NPEs)
- Competitors
- Choice of counsel
- Insurance markets may offer coverage for patent enforcement, breach of contract, and contract enforcement for certain companies
Other advantages that Aon Offers:
Assessment of your IP Risks
For many clients, we often start our IP engagements with a multi-dimensional, high-level review of an organisation’s IP portfolio to help identify key exposure(s) and quantify a company’s potential IP risk.
Coverage against significant damages
Using a data-driven risk model, each client’s risk is analysed to arrange pricing and coverage tailored to their specific requirements.
Efficient Policy Placement
Aon’s standardised approach to managing data gives clients a streamlined policy process.
Worldwide Coverage
Coverage is available across the globe and for most types of IP.
Working With You
Aon’s IP brokerage experience provides meaningful IP insurance programmes for its clients, including accessing large capacity, specific IP insurance premium information and holistic coverage. Our insightful and collaborative approach with clients helps them hedge against the volatility associated with catastrophic IP losses.
How Aon Makes an Impact
IP has historically been under-protected and IP insurance is gaining traction in how it can be utlised to protect this valuable asset. By working with Aon, clients can now gain access to a meaningful IP risk transfer product.
Aon is in the business of better decisions
1 https://www.oceantomo.com/intangible-asset-market-value-study/ Accessed February 3, 2022
2 https://insights-north-america.aon.com/intellectual-property/aon-patent-litigation-trends-2021-year-end-report Accessed December 18, 2022
About Aon:
Aon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Our colleagues provide our clients in over 120 countries and sovereignties with advice and solutions that give them the clarity and confidence to make better decisions to protect and grow their business.
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The information contained herein and the statements expressed are of a general nature and are not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information and use sources that we consider to be reliable, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.
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