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This excerpt taken from the VRSN 10-K filed Mar 3, 2009. Indemnifications
VeriSign enters into indemnification agreements with many of its customers and certain other business partners in the ordinary course of business.
Some agreements indemnify the customer, or business partner, as applicable, against claims brought by third-parties that allege a VeriSign product infringes a patent, copyright or trademark, misappropriates a trade secret, or violates other proprietary rights of that third-party. These indemnification obligations may be subject to limits as specified in the agreement. It is not possible to estimate the maximum potential amount of future payments VeriSign could be required to make under these indemnification agreements. VeriSign incurred certain expenses that were not significant to defend lawsuits or settle claims arising from indemnification agreements in 2008.
Some agreements indemnify customers against certain losses caused by the Company’s employees and subcontractors. These indemnification obligations may be subject to limits as specified in the agreement. It is not possible to estimate the maximum potential amount of future payments VeriSign could be required to make under these indemnification agreements. VeriSign has not incurred significant expenses to defend lawsuits or settle claims arising from such indemnification agreements in 2008.
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Table of ContentsVERISIGN, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
DECEMBER 31, 2008, 2007 AND 2006
The Company maintains insurance policies that may enable VeriSign to recover a portion of the expenses related to certain indemnification claims.
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