Pioneer in Professional Legal Services and First-of-Its-Kind Crime Insurance Company Collaborate to Offer Unparalleled Protection for Trade Secrets
UnitedLex, a leading data and professional services company specializing in intellectual property, litigation, contracts, compliance, and legal operations, today announced a strategic partnership with Crown Jewel® Insurance, the world’s first crime insurance company dedicated to protecting ideas and innovations, specifically trade secrets. This alliance marks a significant leap forward in safeguarding the most valuable assets of businesses today—trade secrets.
“Trade secrets are the new currency of innovation,” said Warren Kruse, Vice President, Data Forensics & Preservation at UnitedLex. “Through our partnership with Crown Jewel® Insurance, we are enabling businesses to protect these critical assets through a comprehensive approach that combines our expertise in intellectual property with Crown Jewel’s groundbreaking insurance solutions.”
Trade secrets, the proprietary knowledge that gives companies a competitive edge, form a substantial portion of most modern businesses’ value. A significant 90% of the S&P 500’s value is intangible assets, and only about 15% of these are shielded by patents or trademarks. This implies that of the S&P 500’s current $32.1 trillion market cap, a staggering $24.6 trillion (77%) is composed of unprotected intangibles like trade secrets.
Crown Jewel® Insurance offers coverage that ranges from the research and development (R&D) stage to the future value of trade secrets, a form of protection that is unavailable anywhere else in the world. This insurance is particularly crucial considering several factors reshaping the intellectual property landscape, such as:
- Non-Competes: Bans on non-compete agreements by state regulatory bodies and potentially the Federal Trade Commission (FTC) have compelled businesses to explore alternative means of protection.
- SEC Cybersecurity Disclosure Rule: The Securities and Exchange Commission’s (SEC) Cybersecurity Disclosure Rule has underscored the importance of robust security measures, making it imperative for companies to protect their valuable assets from potential cyber threats.
UnitedLex’s proprietary data mapping process plays a pivotal role in this partnership by proactively helping companies identify and categorize their trade secrets, providing a starting point to develop robust protection policies and plans. By combining this with Crown Jewel’s unprecedented insurance offering, businesses now have a solid framework for securing the future value of their most critical innovations.
“This partnership is a game-changer for any company that relies on its trade secrets as a cornerstone of its competitive advantage,” said Mary Guzman, CEO and Founder of Crown Jewel® Insurance. “We are excited to work with UnitedLex to provide a comprehensive solution that not only identifies these vital assets but also protects them against the myriads of risks they face in today’s complex environment.”
About UnitedLex
UnitedLex is a data and professional services company delivering outcomes that create value for high-performing law firms and corporate legal departments in the areas of digital litigation, intellectual property, contracts, compliance, and legal operations. Founded in 2006 with a mission to push the boundaries of legal innovation, we provide solutions that enable measurable performance improvement, risk mitigation, revenue gain, cost reduction, and digital business synergy. Our team of 3,000+ legal, data, and technology professionals supports our clients from operational centers around the world.
About Crown Jewel® Insurance
We started Crown Jewel® Insurance based on the knowledge that ideas and innovation fuel the critical competitive advantage of US businesses and that these assets require robust protection. Valued in the trillions and accounting for 90%+ of business value, CJI is leading the effort to bridge the massive insurance gap for these crown jewels.
CJI is more than just insurance; we offer consulting services through our extensive network of service providers, including experts in identification, valuation, legal, cyber assessments, and more.
