Ericsson and Samsung Reach Agreement on Patent War
Companies getting sued by other companies, this is something we hear almost everyday. Developing new technology these days brings up some or the other lawsuit. We are sure none of us like this dispute among the companies, and it seems Samsung also wants that.
Ericsson and Samsung have reached an agreement on global patent licenses between the two companies. The cross license agreement covers patents relating to GSM, UMTS, and LTE standards for both networks and handsets. This agreement has placed with a huge payment of 650 Million USD, which is also said to be followed by some regular payments.
“We are pleased that we could reach a mutually fair and reasonable agreement with Samsung. We always viewed litigation as a last resort,” said Kasim Alfalahi, Chief Intellectual Property Officer at Ericsson. “This agreement allows us to continue to focus on bringing new technology to the global market and provides an incentive to other innovators to share their own ideas.”
This agreement ends complaints made by both companies against each other before the International Trade Commission (ITC) as well as the lawsuits before the U.S. District Court for the Eastern District of Texas. This agreement has put end to this patent issue and we hope now these companies will concentrate on innovation as they did earlier. Peace!
