Posted By: | May 03, 2021 |

Potentials: Insurance Cover for Intellectual Property Misappropriation in Nigeria

The relationship of intellectual property (IP) to the profitability of businesses in the present-day competitive business landscape is undeniable. Breach of IP rights will have a prejudicial or damnable effect on different stakeholders – individuals, governments and corporate entities. IP, a form of property is a composite term that includes copyright, patents, designs, trade secrets, trademarks, etc. Just like a physical property can be stolen, mutilated or destroyed, an IP as property,2 though abstract, can equally be stolen, infringed or misappropriated. The devastating effect of these ‘harmful’ actions on a business can sometimes lead to loss of fortune, goodwill or even market leadership.

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