1. A method for managing exposure to monetary liability for patent infringement by a product or a service through a computer system, comprising the steps of: performing a patent search executed by use of instructions stored in a computer readable storage medium to identify an infringement relevancy group, wherein the infringement relevancy group includes at least a first patent and a second patent; determining a total fair royalty for the product or the service executed by use of instructions stored in the computer readable storage medium; allocating the total fair royalty among the at least the first patent and the second patent in the infringement relevancy group executed by use of instructions stored in the computer readable storage medium to determine a willing fair royalty for the first patent; offering the determined willing fair royalty to an owner of the first patent; receiving a premium for an intellectual property damages insurance policy from a manufacturer of the product or the service, wherein the premium for the intellectual property damages insurance policy is based on the owner of the first patent refusing the willing fair royalty of said offering step, the intellectual property damages insurance policy determined by performing an intellectual property Value-at-Risk assessment to identify risks related to intellectual property and instituting process and control to manage the risks related to the intellectual property, the Value-at-Risk assessment including use of a database of issued patents, a database of pending patents, and a calculation of a patent-based maintenance value.