Chubb Introduces an Intellectual Property, Privacy and Communications Liability Risk Management Handbook

May 5, 2004

Chubb has published a new Intellectual Property, Privacy and Communications Risk Management Handbook, “designed to assist companies of any size in evaluating and managing their risk, focusing on copyrighted content, trademarks, trade secrets, patents, privacy and defamation.”

“Companies conducting business in today’s brand- and image-intensive marketplace must protect their own intellectual property rights while minimizing their exposure to third party intellectual property infringement claims,” warned Richard Reed, vice president, and global intellectual property and e-commerce product manager of Chubb Commercial Insurance. “With litigation costs for a lawsuit in this arena often exceeding $1 million, this emerging exposure can have serious consequences for companies that fail to recognize the risks.”

Chubb’s announcement described the book as using “an easy-to-follow checklist format,” that “highlights areas of strengths and weaknesses for each topic and provides management and/or the risk manager with practical recommendations to help reduce or eliminate the exposures identified. A glossary of terms helps the reader decipher some of the words and phrases commonly used in the world of intellectual property. “

“Intellectual property is no longer just a concern for the large, multinational companies,” Reed stressed. “Today, any company can become the accused in an intellectual property lawsuit. Small-to mid-size firms that find themselves embroiled in lawsuits with larger, more financially strong adversaries may be especially disadvantaged. The best defense is a good offense. That’s why establishing a strong risk management program is critical for all companies in today’s market. Chubb’s new handbook can help management better understand the strategic implications of intellectual property and privacy to the overall business enterprise.”

To order a copy of Chubb’s Intellectual Property, Privacy and Communications Liability Risk Management Handbook, contact a Chubb-appointed agent or broker.

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