By-laws of the College of Patent Agents and Trademark Agents

Marginal note:Professional liability insurance

• 69 (1) The professional liability insurance required by subsection 34(1) of the Act must meet the following requirements:

  • (a) be issued by a company licensed in Canada;

  • (b) cover claims made in and outside Canada;

  • (c) indemnify the licensee for any civil liability that arises from their acting as either a patent agent or a trademark agent; and

  • (d) have coverage limits of no less than $1 million per claim and $2 million aggregate per year.

• Marginal note:Exemptions

  (2) The following licensees are exempt from the requirement in subsection 34(1) of the Act to be insured against professional liability:

  • (a) a class 3 licensee who has neither a supervisor nor a training agreement in effect and who has given an undertaking under section 58;

  • (b) a class 4 licensee;

  • (c) any licensee who is employed by an employer that carries on business in Canada and who provides patent agent or trademark agent services solely to their employer and not to the public; and

  • (d) until December 31, 2023, a class 2 licensee.