MOUNTAIN VIEW, Calif. (Legal Newsline) -- Samsung Electronics Co. Ltd. and search engine giant Google announced Monday they have signed a global patent cross-license agreement.
The agreement covers a "broad range of technologies and business areas," the companies said in a joint statement.
Allen Lo, deputy general counsel for patents at Google, said the agreement will reduce the potential for litigation and allows the companies to focus instead on innovation.
The deal covers the two companies' existing patents and those filed over the next 10 years.
"We're pleased to enter into a cross-license with our partner Samsung," Lo said.
Dr. Seungho Ahn, the head of Samsung's intellectual property center, called the agreement "highly significant" for the technology industry.
"Samsung and Google are showing the rest of the industry that there is more to gain from cooperating than engaging in unnecessary patent disputes," he said.
With the agreement, Samsung and Google gain access to each other's industry-leading patent portfolios.
From Legal Newsline: Reach Jessica Karmasek by email at email@example.com.
- Texas non-practicing entity files lawsuit against Amazon, Best Buy, others over USB hub patent
- Pa. AG has filed more than 100 consumer protection actions so far this year
- Va. AG settles with company for alleged false advertising
- N.Y. AG urges FDA to protect children from e-cigarette dangers
- False Claims lawsuit filed against Miss. hospital, management company and owner
- Schneiderman: Alleged participants in Long Island mortgage rescue scam agree to pay up
- Insurer reaches deal with Mass. AG over allegations of selling unauthorized health insurance
- Daymar College to pay more than $12 million to settle Ky. AG's consumer protection lawsuit
- D.C. AG holds initial Labor Advisory Committee meeting
- Global Virus Network: Measles infection growing in U.S.