To end Patent litigation, which is not only time consuming but involve lot of litigation expenses, Samsung has announced today that it has entered into patent cross-license agreement with Cisco for the next ten years. The news comes on the heels of other landmark patent deal that has been concluded by Samsung with the Android OS developer and search engine giant Google. Only last week, Twitter and IBM have also entered into simialr agreement to end their patent fight.
Samsung’s agreement with Cisco will give both organizations the access to each other’s industry-leading patent portfolio, which covers a broad range of products and technologies. The mutually beneficial agreement covers the two companies’ existing patents as well as those filed over the next 10 years, and this arrangemetn will enable both the organisations to collaborate on future products and services.
“Innovation is stifled all too often in today’s overly-litigious environment,” said Dan Lang, Cisco’s Vice President of Intellectual Property. “By cross-licensing our patent portfolios, Cisco and Samsung are taking important steps to reverse the trend and advance innovation and freedom of operation.”
“We look forward to working with Cisco.” said Dr. Seungho Ahn, the Head of Samsung Electronics Intellectual Property Center. “We expect this agreement to result in mutual growth and, ultimately, for the benefit of both companies’ customers across the world.”