New CFC IP solution targets start-ups, SMEs

2 March 2023

Cyber specialist CFC has launched a new insurance product for start-ups and small businesses to protect against threats to intellectual property (IP), protecting patents, trademarks and copyrights.

Intellectual Property Practice Leader Maddi Brown says SMEs are disproportionately at risk of threats to their IP but have not had access to appropriate cover.

Existing competitors frequently challenge the ownership of a start-up’s IP or oppose the validation of its IP rights during the application process – a tactic used to slow down or eliminate new competition in the market.

“It can be really expensive and challenging for those small businesses to fight back,” she said, adding that CFC’s new offer “not only protects them against these types of incidents but any other threats to their IP,” Ms Brown said.

“We’ve designed a comprehensive and easy to understand policy specifically for start-ups and SMEs and we give the option of using a panel of expert IP lawyers to help them successfully navigate contentious disputes.”

CFC’s new IP solution covers defence and pursuit enforcement, oppositions, protection of loss of future profits and loss of IP rights.

Premiums start at $US1000 ($1485), and the policy is designed for start-ups and other small businesses with a turnover of up to $US20 million ($29.7 million) in a variety of industry sectors. A non-binding indication for IP cover can be obtained online by providing company name, website and revenue.

London-based CFC has offices in Brisbane, New York, Austin and Brussels.