New Zealanders are known the world over for being extremely innovative and for generating world-class "great ideas". If you are a generator of a great idea, you need to be very conscious that it is worth very little unless you own its associated property rights and that you can exploit them commercially.
If you hope to attract investment capital or to sell your idea to another party, then it is highly likely that you will need to protect your idea with some form of intellectual property right such as a patent, a registered trademark or design, or a plant variety right.
These property rights have little value on their own unless you are prepared to go to court to enforce them. If you do not have the money to go to court then you will need to insure them. Insurance pays for the legal costs associated with protecting and enforcing these insured rights.
If you can show that you have insured your property rights then this acts as a deterrent and prevents a significant number of property right infringements from occurring. Not only does insurance deter would-be thieves, it also provides a much higher level of assurance for potential investors, purchasers or distributors of your great idea.
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