I’m not sure I have ever seen a story that points toward trade secret insurance as an imperative. The market has to grow.

The concerns pointed out by many of the folks in this article would be negated by the process involved in qualifying for Crown Jewel Protector and/or the financial certainty the insurance proceeds provide.

If you:
a) identity and document the existence of a trade secret up front using blockchain or NFTs to record the metadata
b) review/improve hiring, training, documentation, NDAs and other must-haves, review infosec protections, etc.
c) have a valuation done of each asset
d) insure them for that value as a “floor” against misappropriation
e) create a built-in Crisis Management program to trigger as soon as an asset is suspected to have been stolen

Then you have taken much of the risk and uncertainty off the table. It is a risk management approach plain and simple. It is Crown Jewel Protector.

We are agreeing up front that a particular asset qualifies as a trade secret. We are insuring the value of the asset AND getting the Insured litigation ready, and bringing the legal and forensics experts to the table for crisis management.

Added and massively huge bonus: With the insurance backing independently valued trade secrets against misappropriation, companies should be able to monetize the value for lending purposes, creating a much higher valuation and credit rating of the company since the insurance is A+ rated paper. It is no different than a loan on a hotel chain sitting right on the coast which is only doable because the buildings are insured for wind, flood, storm surge.

I’d love to speak to any IP advisor about why and how this works.

Please email info@crownjewelinsurance.com if you’d like to set up a call!

#tradesecrets #IP #riskmanagement #uniqueassetprotection

Full article here:

https://www.iam-media.com/trade-secrets/article/experts-split-how-trade-secrets-should-fit-protection-strategy