An insurance for covering the cost to settle lawsuits brought in regards to copyright infringement.
What is the purpose?
The purpose is to give a small amount of insurance coverage (say a $5,000 maximum) that would pay the settlement costs if a copyright infringement suit is brought against the entity paying for the insurance.
What is the implimenation?
Users who purchase the insurance could pay something like $12-$24 per year which would cover up to a $5,000 settlement for a copyright infringement lawsuit which might be brought against them. You need to sell 2500 insurance policies in order to cover one infringement settlement per month.
This would protect against any type of copyright infringement settlement. It would be particularly helpful for small businesses who might exercise their fair use rights to quote documents or sample images for use in news articles and blogs to have insurance against copyright infringement lawsuits.
The real money though is in selling copyright infringement franchises to intellectual property lawyers. The franchise builder could sell a turn key website for managing the insurance customers and provide all the legal contracts, insurance polices, etc. Additionally the franchises might include a central brand name and graphic design.
Additional pricing ideas might be $99/y for $5000 settlement coverage, $49/y for $2500 settlement coverage, and $199/y for $10,000 settlement coverage.
