Intellectual Property Infringement Liability is a third-party liability insurance policy that supplements traditional commercial general liability insurance. IPIL protects companies against the costs associated with lawsuits that allege the following:
- Copyright and trademark infringement
- Libel
- Slander
- Product disparagement
- Violation of the rights of privacy and publicity (such as the commercial misappropriation of a famous person's name or likeness), whether or not in advertisements
Once exposed to possible predators, insurance underwriters may be reluctant to cover the risk. Therefore, preparation at an early stage is extremely important.
