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4Thought
Kiln 4Thought provides a new solution for the protection of shareholder value and revenue generation derived from the lifeblood of the modern organisation: its intellectual property.
In every area of commerce, the value of intellectual property is increasingly recognised as the critical element in a wide range of business activities. The effect of new accounting standards and the reassessment of the components of market capitalisation have combined to focus the attention of analysts, fund managers and corporate advisers on these new exposures.
4Thought from Kiln is among the first of a new generation of insurance products to be created to provide comprehensive intellectual property coverage. It protects the value of the policy holder's intellectual property rights against impairment or destruction resulting from defined losses. As a first party policy, it is widely recognised as being the first product to cover substantial, direct financial loss rather than for the third party liabilities and legal expenses covered in other intellectual property policies.
At Kiln we aim to provide cover against the risk of such intellectual property assets being lost, and offer an element of balance sheet protection. Coverage can be given against:
Successful legal challenges to the intellectual property - where,
for example, an item of the policy holder's intellectual property
is found invalid, or that the policy holder has infringed a third
party's intellectual property rights.
Governmental action that prevents or prohibits the exploitation of the intellectual property - this would cover discriminatory governmental action that renders the policy holder's rights null and void, grants similar rights to a competitor or prohibits exploitation of the intellectual property.
The intellectual property may be founded in a number of sources and is often integral to a product or service that the company provides. We aim to provide effective cover to include:
Patents
Trademarks
Copyrights
Trade secrets
Other intangible property rights
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