Intellectual Property Policy Feature Checklist
What to confirm in a intellectual property policy — what's standard, what's often limited, and what to add if needed — plus the gap most often missed.
Pull out your current intellectual property policy and check the box next to each feature you can confirm it includes — anything unchecked is worth a quick conversation with your advisor.
Tick each feature you can confirm your policy includes — anything left unticked is a good question for your next policy review.
| Confirm? | Policy feature | What to confirm | Priority |
|---|---|---|---|
| Infringement Defense | Pays to defend claims that the business infringed someone else's patent, trademark, or copyright. | Standard | |
| Damages & Settlements | Confirm the policy pays damages and settlements, not just defense costs. | Standard | |
| Contractual Indemnity to Customers | Covers infringement promises made to customers in contracts — often excluded or limited. | Often limited | |
| Coverage Territory | Confirm the territory matches where products are sold and where suits could be filed. | Standard | |
| Retroactive Date / Prior Acts | Confirm products sold before the policy started are covered. | Often limited | |
| Pursuit / Enforcement Coverage | Pays to enforce the business's own IP against infringers. | If needed | |
| Loss of Rights / Validity Challenges | Covers defending the validity of the business's own patents. | If needed |
The gap most often missed in this coverage
The most commonly missed gap in this coverage is assuming general liability covers it. General liability's advertising-injury coverage excludes most patent claims and many trademark and trade-secret claims — while U.S. patent suits reached a ten-year high in 2025 with $2.35 billion in damages. Businesses should buy dedicated IP coverage, confirm contractual indemnity is covered, and clear products before launch.
Send us the checklist and we'll review your intellectual property coverage line by line, then market it across multiple carriers that compete for your account.
Related: Intellectual Property Insurance · Intellectual Property Supplemental (apply) · All coverage checklists
Frequently asked questions
What should a intellectual property policy include?
Standard features to confirm in a intellectual property policy include Infringement Defense, Damages & Settlements, Coverage Territory. This checklist also flags the features that are often limited or sublimited and the ones to add if needed, with a plain-English note on each.
Is this checklist insurance advice?
No. It is a free educational tool to help you have a more informed conversation with a licensed professional. It affords no coverage and is not insurance, legal, or financial advice — only your actual policy language governs what is and isn't covered.
Can Cory Washington & Co. review my intellectual property coverage?
Yes. Share your checklist and we'll review your program line by line, market your account across multiple carriers, and explain the trade-offs in plain English. Cory Washington & Co. LLC is licensed in all 50 states.
This checklist is a free educational tool from Cory Washington & Co. to help you review your own coverage and have a more informed conversation with a licensed insurance professional. It is general information only — not insurance, legal, or financial advice, and not a recommendation to buy, change, or cancel any policy. Coverage terms, availability, limits, and requirements vary by policy, carrier, and state, and only the language in your actual policy governs what is and isn’t covered. Checking or leaving blank any item above does not indicate that you are adequately insured or under-insured. Using this checklist does not create a client, agency, or fiduciary relationship. Always consult a licensed professional about your specific situation.