Crown Jewel® Insurance

In the United States, #tradesecrets are valued at over $10 trillion and often remain in companies' blind spots. Bad actors increasingly aware of vulnerabilities continue to target the #IP (intellectual property) of U.S. corporations. With growing #technology advancements and mobile workforce, combined with diminishing protections from non-compete agreements, it is easier for former employees to take valuable #assets upon exiting the company. Many organizations are underprepared and often underinsured, leading to lengthy court cases and hefty awards. Moreover, new regulatory obligations are on the horizon, including the #SEC's inclusion of trade secret theft under the #Cybersecurity Disclosure Rule. This highlights the importance of addressing these threats and ensuring compliance. Board members must ensure their organizations have a robust #risk management program focused on protecting trade secrets—these assets are the most valuable intangible resources most companies possess. Alarmingly, very few organizations are doing this effectively. The Board Risk Committee continues to facilitate the exchange of best practices and has invited trade secret #riskmanagement expert Mary Guzman to provide insights into growing board risks and threats, along with solutions to protect your company's intellectual property—those crown jewels that ensure a competitive edge and secure future. Join us for this exclusive #webinar featuring Mary Guzman, CEO & Founder of Crown Jewel® Insurance, and a leading authority in trade secret risk management, courtesy of the Board Risk Committee.   Wednesday, August 28th 11 AM-12 PM EST Register here: https://bit.ly/CJIMG828

Did you know that the value of global intangible assets has skyrocketed to an astonishing $79.4 trillion? This staggering figure highlights a monumental shift in our economy, with #tradesecrets pivotal role in driving this valuation. Trade secrets are more than confidential formulas or business strategies; they are the lifeblood of #innovation and competitive advantage. As companies now recognize the opportunity to leverage their intangible #assets, the economic benefits of keeping them secure become paramount. However, trade secrets remain the MOST vulnerable aspect of a company's #IP (intellectual property) portfolio. Many organizations underestimate the risks associated with trade secret misappropriation. With billions lost annually due to #cyber breaches and targeted theft, safeguarding these assets is not just a strategic imperative— it’s a legal obligation. We've entered a new era where the economy increasingly thrives on innovation and ideas rather than tangible products, the true essence of a company's worth is rooted in its capacity to protect its crown jewels. Maintaining the confidentiality of your trade secrets fortifies your competitive edge and defines your organization's long-term #success. #CoverYourAssets #ProtectYourIP #TradeSecrets #Insurance #IntangibleValue #FortifyYourFuture 

In a hip-hop meets finance showdown, Pleasr (PleasrDAO a Cryptocurrency Collective) has filed a #tradesecret lawsuit to protect its stake in the priceless #Wu-Tang Clan album, "Once Upon a Time in Shaolin." https://bit.ly/WuTang24 More than just the seventh and highly secret album, previously purchased by the infamous Martin "Pharma Bro" Shkreli, this unique cultural artifact was created as a one-of-a-kind musical masterpiece, elevating its status to that of a highly valuable coveted asset. The Collective claims their confidential intel on the album’s ownership and valuation has been compromised, sparking legal action. Though ownership history reads like a legal battle, worthy of a rap song itself, bought for cool $2 million by Shkreli in 2015, seized by the government in 2017 post-fraud conviction, and sold to PleasrDAO for $4.75 million in 2021, it seems everyone realized the early on that Wu-Tang is for more than just the children. The heart of this lawsuit demonstrates the critical importance of recognizing and protecting trade secrets—this time in the form of the vital info about the album's market potential, transaction terms, and insights crucial for navigating the NFT and collectible landscape. Just like the Wu-Tang Clan, these trade secrets are an invaluable commodity and as Pleasr states on their site "A lot of things in life are temporary, fleeting, impermanent. But remember this - just like our #blockchain, Wu Tang is forever." #CoverYourAssets #TradeSecrets #SecretsoftheWuTang #Cryptocurrency #NFT #CREAM #blockchain

Financial services and insurance are the two most common plaintiffs in trade secret misappropriation claims. Algorithms and rating models rule the day. Think these are lot valuable?? Think again!

A celebrity-favorite NYC designer is taking the drama off the runway and into the courtroom, claiming a rival lifted their #tradesecrets. In a dramatic legal battle unfolding in the #fashion industry, Space/Craft World Wide, a prominent NYC designer, whose window displays are sought out by iconic brands like Prada Group, Gucci, and Christian Dior Couture, is accusing rival UK-based Harlequin rival of stealing trade secrets. https://bit.ly/CGI1030 The NY designer claims that their unique window display concepts, which have garnered significant acclaim, were copied by the rival without permission. This allegation has sparked concerns over the critical need to safeguard designs and techniques in the competitive world of fashion. It also shines a light on the lengths designers must go to secure their creative ideas, in an industry where originality is key to success.  After all, proactive protection is always in style. As the legal proceedings unfold, may this serve a cautionary tale for ALL #creatives to proactively protect their ideas, and not wait for a crisis to realize the value of their unique, competitive assets. #IntellectualProperty #TradeSecrets #ProactiveProtection #Innovation #BusinessStrategy #FashionFear #DangerstoDesign

In a significant development within the #technology sector, Oracle has filed a lawsuit against payment #software company Procore Technologies, alleging that Procore has unlawfully accessed and utilized Oracle's #tradesecrets. Yet another string of high-cost litigation cases that highlight the CRITICAL importance of proactive protection for proprietary information . Trade secrets (with their estimated $35 TRILLION value in the U.S.)  are THE vital #assets that give companies a competitive edge; however, as this recent case illustrates, the risk of #intellectualproperty theft is ever-present, in organizations of EVERY size. Companies must recognize that safeguarding their innovations and sensitive information is not just a best practice—it’s essential for sustaining their market position. Stronger Risk Management protocols, often necessitated when underwriting #insurance), can provide businesses with the financial protection and support necessary to navigate the complexities of legal disputes arising from trade secret theft. In a world where ideas drive success, ensuring their #security is more important than ever. #TradeSecrets #CoverYourAssets #Insurance #IntellectualProperty #BusinessProtection #RiskManagement

So happy to be part of this #innovation team and effort with Chaucer Group! We actually insure these ideas and new products against theft with out porn innovation while helping them prevent theft of their #IntellectualProperty. Protected innovation is a very valuable asset. Thank you!!

🌟 CoinMe vs. CoinStar 🌟 The recent allegations by Coinme against industry giant Coinstar highlight the significant risks that startups face when it comes to #tradesecrets and proprietary information. https://bit.ly/CJIGem1024 With CoinMe valued at $20M taking a stand against CoinStar's staggering $2.7B valuation, this case underscores the importance of safeguarding innovations that drive our businesses forward. Trade secrets are the lifeblood of many companies, providing a #competitive edge that can be the difference in profit, market share, and success. This is where trade secret #insurance comes into play. For companies like CoinMe, investing in this type of coverage is not just a smart move—it's an essential strategy for protecting valuable assets. Trade secret insurance can: 🔒 Mitigate Risks: In the event of a breach, having insurance can help cover the costs associated with legal battles, loss of revenue, and potential damages. 💡 Encourage Innovation: Knowing that your trade secrets are protected allows companies to innovate without fear, fostering growth and creativity. 🤝 Attract Investors: Demonstrating a commitment to safeguarding intellectual property can enhance investor confidence, making it easier for startups to secure funding. Every startup, regardless of its size, needs to protect its ideas and innovation. Trade secret insurance is not just a safety net; it's a proactive approach to securing a company's future in an increasingly competitive market. Reach out today and learn how we support our innovators and recognize the value of protecting your competitive advantages. #TradeSecrets #IntellectualProperty #StartupSuccess #CoverYourAssets #Innovation #Insurance #Crypto

Today’s #TradeSecretTuesday highlights the latest peril to intangible #assets, this time involving hedge fund Altana Wealth Management. Accusations have surfaced that the firm improperly leveraged confidential information from a competitor, raising alarms about #intellectualproperty protection and ethical practices. https://bit.ly/CJIGem1022. This instance is another stark reminder of the critical importance of safeguarding trade secrets in the financial industry. In the increasingly competitive #financial landscape, where information is power, the need for robust trade secret #protection has never been more evident. Companies must prioritize securing their proprietary insights to maintain a competitive edge and avoid costly legal battles. How effectively is your business protecting its trade secrets? #CoverYourAssets #InnovationRisk #FortifyYourFuture #IP #Insurance #AssetManagement

Fueling Controversy: Phillips 66 Burns $604.9M in Trade Secrets Verdict   Robust risk management is not just a buzzword; it’s a necessity - just look at the recent verdict against Phillips 66, which resulted in a staggering $604.9 million penalty for misappropriating trade secrets. https://reut.rs/4dRpWqk This should serve as a stark reminder of the vulnerabilities that companies face and the consequences of not adequately protecting your #IntangibleAssets. The results can be catastrophic, financially, and reputationally, and underscore the inherent risks to proprietary information during #mergers and #acquisitions. However thanks to Propel Fuel's robust risk management, the David vs Goliath scenario had a favorable outcome. This case should underscore the urgency for organizations to not only implement strong #risk management practices but also to invest in specialized #insurance solutions designed to shield their #tradesecrets, specifically to help:    ✔ Mitigate Financial Risks   ✔Evaluate & Strengthen Risk Management Protocols (both internal and external)   ✔Ensure Reputation Management   ✔Enhance Innovation Security  ✔Offset Sizable Litigation Costs Companies should take this as a call to action as more cases with sizable damages like Phillips 66 occur. The time to bolster your defenses is now. Why wait for a breach to occur; invest in trade secret insurance and ensure your business remains resilient against threats to its most valuable assets.  #CoverYourAssets #FortifyYourFuture #TradeSecretInsurance