Cisco and Samsung Electronics have entered into a patent cross-license agreement under which the technology companies will gain access into each other’s patent portfolio.
According to Cisco, the agreement that takes immediate effect 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, the companies said.
They reckon that the patent agreement will reduce potential litigation and enable both companies to concentrate on innovative product and services in the future.
Dan Lang, Cisco’s Vice President of Intellectual Property says that, “innovation is stifled all too often in today’s overly-litigious environment. By cross-licensing our patent portfolios, Cisco and Samsung are taking important steps to reverse the trend and advance innovation and freedom of operation.”
Seungho Ahn, the Head of Samsung Electronics Intellectual Property Centre says, “we look forward to working with Cisco. We expect this agreement to result in mutual growth and, ultimately, for the benefit of both companies’ customers across the world.”