A novel class of interpenetrating polymer networks which are dispersible in conventional coating solvents is disclosed. Such dispersions are useful in preparing protective and/or decorative film coatings and are particularly useful in photosensitive or imaging formulations such as photoresists, solder masks and the like. These polymer networks are comprised of at least two interpenetrating crosslinked polymers. At least one of the polymer networks is formed by polymerization in a solvent. In one embodiment of this invention, at least one polymer network is prepared from macromers to produce a polymer system having functionalized branch or graft linear segments. The solvent dispersible interpenetrating networks of this invention are particularly useful as binders in addition polymerizable photosensitive compositions containing crosslinking monomers such as solder masks. Upon exposure to actinic radiation and suitable thermal curing, solder mask coatings of such photosensitive compositions form multiple, e.g., triple, interpenetrating polymer networks having superior toughness and flexibility.