Feasibility of Patent Insurance in Spain

A report entitled “Feasibility of Patent insurance in Spain”, drawn up in collaboration with the Spanish Patent and Trademark Office (SPTO), the Carlos Fernández-Novoa Innovation and Industrial Property Chair and the Alberto Alzaburu Foundation, was presented on 19 September at the Fundación Mapfre in Madrid.

The report indicated that litigation to defend Industrial Property Rights against attack or violation is costly and complex and therefore is often beyond the reach of Small and Medium Enterprises (SMEs). Patent insurance aims to provide coverage for innovative SMEs and for individual researchers.

Patent insurance serves as an incentive for R&D and is in use in the United States. Countries such as Sweden, the United Kingdom, Denmark, France and Germany also have experience in this field.

Types of insurance and requirements
The report covers various types of insurance:

• Legal defence insurance: designed essentially to help resolve conflicts arising when patents are violated or voluntarily breached.
• Indemnity insurance: covers the insured party against damages

Such insurance should also meet the following requirements:

• It should be profitable for private operators in the insurance sector (according to the feasibility study, as from 5,000 patents)
• It should be of interest for researchers and SMEs:
  • Coverage should be simple and effective
  • It should be affordable
• It should be supported by nationwide R&D+I plans

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