Patent Indemnity and Sample Patent Indemnity Clauses
Patent indemnity refers broadly to legal protection provided contractually by one party to the other to secure against an anticipated loss.
Patent Indemnity
Patent indemnity allows for parties to agree to legal protection for one party if particular situations concerning loss or breach occur. The two parties involved in an indemnity agreement are typically referred to as the indemnitor and the indemnitee. The indemnitor acts as the insurer, while the indemnitee is the party protected from loss.
Patent Indemnity Coverage
Patent indemnity coverage can be simple or complex depending on what the parties intend to cover. It is notable that for patent indemnity, resolution of the patent’s validity is not required for a resolution of indemnity. Other considerations unique to patent indemnity include the consideration of willful patent infringement and punitive damages (availability varies by state).
Interested in other forms of Intellectual Property Indemnity?
See our articles on Software Indemnity, Copyright Indemnity, Trade Secret Indemnity, and Domain Name Indemnity.
For more information on this topic, please visit our Patent Protection service page, which is part of our Patents Practice.
Klemchuk LLP is an Intellectual Property Law, Litigation, and Transactions law firm located in Dallas, Texas. The firm offers comprehensive legal services including litigation and enforcement of all forms of IP as well as registration and licensing of patents, trademarks, trade dress, and copyrights. The firm also provides a wide range of technology, Internet, e-commerce, and business services including business planning, formation, and financing, mergers and acquisitions, business litigation, data privacy, and domain name dispute resolution. The firm publishes the following blogs: Intellectual Property Law, Conversations with Innovators (interviews with thought leaders), Leaders in Law (discussions on timely law topics), and Culture Counts (thoughts on law firm culture and the business of the practice of law).