Jessica M. Karmasek Jul. 7, 2014, 4:15pm

REDMOND, Wash. (Legal Newsline) - Microsoft Corp. and Canon Inc., the camera and printer maker, announced last week they have signed a patent cross-licensing agreement.

The companies said in a news release Wednesday that under the deal both Microsoft and Canon gain licenses to each other's "highly valued and growing" patent portfolios.

Such agreements also help avoid costly litigation.

"This collaborative approach with Canon allows us to deliver inventive technologies that benefit consumers around the world," said Nick Psyhogeos, general manager, associate general counsel, IP Licensing of the Innovation and Intellectual Property Group at Microsoft.

"Microsoft believes cooperative licensing is an effective way to accelerate innovation while reducing patent disputes."

The content of the agreement will not be disclosed; however, the companies said it will cover a "broad range of products and services each company offers," including certain digital imaging and mobile consumer products.

"This agreement is a natural extension of our longstanding relationship with Microsoft and commitment to developing innovative technologies," said Hideki Sanatake, senior general manager, Corporate Intellectual Property & Legal Headquarters of Canon.

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