Since the start of the Internet, information has grown in leaps and bounds. Within the last eighteen years, patent and trademark applications have seen their fastest growth. Copyrighted material is also seeing an explosive growth. This growth also means that accidental copyright and trademark infringement becomes more likely for anyone who produces information.
The Emergence of the Copyright Troll
Copyright trolls actively seek out others who infringe on their copyrights for the sole purpose of making money through litigation. Some base their entire “business model” from trolling. Others have a legitimate product that they profit from but also troll for copyright violations as a way to generate additional revenue. Many employ sophisticated methods and software that detect infringements on their copyrights.
If you are a business that produces information as a part of your service, you are at risk of being sued for a copyright violation. The longer you’ve been in business and the more visible you are, the greater this risk becomes. It doesn’t matter if your infringement is accidental, you can still be brought to court. Even if you are being sued by a copyright troll, they can still win the case because they have a lot of experience with these kinds of lawsuits.
What Types of Businesses are Vulnerable?
- Software Developers
- Freelance Programmers
- Web Designers
- Logo Designers
- Information Product Creators
- Content Producers
- App Developers
In short, if your service produces or works with anything that can be copyrighted, you are at risk.
Errors and Omissions (E&O) Insurance
E&O insurance protects you from litigation that results from a mistake or an omission on your part that causes harm to your clients. The expenses of litigation as well as settlements for damages can be covered up to a certain limit. In addition to this, many E&O insurance policies include coverage for lawsuits arising from copyright and intellectual property infringement.
The continued growth of copyrighted content increases the risk of accidental infringement and of possible litigation. The best way to ensure that this doesn’t put you out of business is to get E&O insurance with copyright and intellectual property infringement protection.
Protect your business’ interests. Call Key City Insurance at (801) 840-9555 for more information on Salt Lake City business insurance.