Buried Treasure

REIMBURSEMENT FOR INTELLECTUAL PROPERTY LAWSUITS

“Buried Treasure” for Companies and Attorneys

Although the vast majority of intellectual property insurer denials lack merit, you may be unfamiliar with the opportunity to secure reimbursement from insurers for intellectual property lawsuits where insurer denials are especially prone to error.  Did a light just turn on? Good! This represents a treasure-trove of opportunity we call “Buried Treasure.” Let’s take a dive into the depths of how attorneys and their clients stand to gain from these oft-overlooked, coverage opportunities. 

FINDING THE “BURIED TREASURE”

Defense & Settlement Fees May Be Recoverable!

First, who has the right perspective? Insurers rarely consider the basis for coverage implicated by the underlying lawsuits they address. Simply put, they lack the knowledge necessary to identify policy provisions that are pertinent to intellectual property law. Policyholders should be guided by legal professionals to secure the best protections available.

Second, look at the big picture. Insurers narrowly analyze the facts leading to an underassessment of potential coverage for “offense” based claims.  Intellectual property lawsuits offer especially favorable forums for this review because such lawsuits often proceed under a bewildering variety of causes of action, including a mix of disparate facts that may reveal potential insurance coverage.

Third, to be, or not to be, impartial. The insurer’s ability to appreciate a potential for coverage requires an ongoing “neutral assessment” of developments in coverage case law. 

Fourth, out of sight, out of mind. Case law that is favorable to policyholders is not disseminated with appropriate instruction to inform claims personnel to its significance.

Fifth and finally, the lack of favorable coverage perspectives, by insurers, may be due to “groupthink” and “willful blindness” when considering case law. This stunts the possibility for full protection under the policy.

GAUNTLETT LAW – Your Preferred Choice

Many companies and their counsel overlook a readily available source of capital for ongoing litigation and for settlements. Hold onto your denial letters as insurance coverage litigation in the intellectual property insurance requires months, not years, since discovery in the coverage action is rarely necessary.

Gauntlett Law is a law firm with attorneys focusing on insurance coverage for policyholders in intellectual property, employment and business tort claims, as well as the litigation of intellectual property disputes. Our principle, Mr. David Gauntlett, Esq., is an industry veteran, author and advocate with involvement in precedent-making cases and over 38 years practicing as an attorney.

We appreciate hearing from other attorneys and companies seeking assistance with these matters and we value lasting strategic partnerships. Contact us for more information or schedule a free consultation.

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