PARIS (Legal Newsline) -- Technicolor, the pioneer of the color motion picture process, announced Tuesday that it has signed a multi-year patent license agreement with LG Electronics.
The company, based in France, said the agreement covers the use of its patents for LG's smartphones and tablets.
"Technicolor's pioneering work in video technology is now widely spread in smartphones and tablets to offer consumers a media rich experience and we are pleased to welcome LG as a licensee and offer a comprehensive license to our patent portfolio," said Boris Teksler, the company's head of technology.
"As new media-rich devices become pervasive we are pleased to expand our offering and share our patented technologies."
More companies are signing such licensing agreements to help avoid costly litigation.