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Samsung Electronics And IBM Announce Patent Cross-License Agreement
Published Feb 22, 2011
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Samsung Electronics Co., Ltd. Co and IBM (NYSE: IBM) recently announced a patent cross-license agreement, under which the companies will license their respective patent portfolios to each other.
Over the past several decades, IBM and Samsung have built strong patent portfolios covering a wide range of technologies including semiconductors, telecommunications, visual and mobile communications, software and technology-based services. This cross-licensing agreement enables the two companies to innovate and operate freely while using each other’s patented inventions to help keep pace with sophisticated technology and business demands.
The companies said the cooperation fostered by cross-licensing, reinforces their ability to provide better products and services, while maintaining their competitiveness.
“Samsung sees this licensing agreement as a great way for both companies to expedite innovations and strengthen business growth with the ability to access each others’ patents for basic technologies,” said Duke Park, General Manager for Samsung Egypt. “We hope this agreement is the first of many future collaborations between two of the leading innovators in the technology industry.”
“Patents and innovation are a critical component of IBM's high-value business strategy,” said Ken King, vice president, Patents, Software & Services IP Licensing for IBM. “In addition to protecting the huge investment we make in R&D, patents also allow us establish cross-licenses, which provide IBM and partners like Samsung with significant freedom of action, which is essential in the competitive global business environment.”
IBM and Samsung topped the list of the world's most inventive companies in 2010 as the first and second recipients of U.S. patents, respectively. IBM has been the leading recipient of U.S. patents for 18 consecutive years.
About Samsung Electronics:
Samsung Electronics Co., Ltd. is a global leader in telecommunication and digital convergence technologies with 2009 consolidated sales of US$116.8 billion. Employing approximately 188,000 people in 185 offices in 65 countries, the company is recognized as one of the fastest growing global brands and a leading producer of mobile phones.
For more information:
Mona Seif
Trans – Arabian Creative Communications (TRACCS)
28 Wadi El Nile Street / Floor 1, Suite 2 / Mohandiseen, Cairo, Egypt
T: +20.23.304.6860
+20.23.304.6870
F: +20.23.303.1219
E: mona.seif@traccs.net
Posted by
VMD - [Virtual Marketing Department]
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