Consideration of intellectual property insurance essence

Abstract

The object of the current research is the insurance of intellectual property in the light of its very essence and the overall frame in which it exists and develops worldwide. There are two problematic issues on this topic, from which various other problems, with less importance but still existing, arise. The first thorough problematic aspect is the lack of unified rules for intellectual property insurance. This is the one side of the coin. On the one hand and the other side of the coin is the apparent fear of the insurance companies to commit to this type of policy, due to lack of security and the high risk. In the course of the research two main tools are used. The first and basic one is a brief overview and analysis of the theoretical foundations of the topic, which subsequently is used as a groundwork for assay of different companies’ good practices in this field. As a result of the review of the framework of intellectual property insurance, it is concluded that its application as a parallel and additional method of protection of the intellectual property is very beneficial, useful, economically viable, and highly necessary, but only if a way to eliminate the difficulties and shortcomings of this type of insurance completely is found. In the future, in order to reach positive changes to take place and for intellectual property insurance to become an increasingly preferred method for supplementary protection of intellectual property, the proposed approach is to be worked in three directions. Those directions are intertwined with each other and they must be worked on simultaneously and in their interconnectedness. Namely, the directions are building a unified system, with a strict methodology and at the same time creating a legal basis which to bring in detail and unequivocal means and approaches the way in which intellectual property insurance is carried out.