A patent cross-license agreement has been signed between IBM and Samsung Electronics, which covers all respective patent portfolios of both companies. The ability to innovate and develop technology and products in a better and faster manner was cited as key reasons for the agreement.
"This licensing agreement will help both companies expedite innovation and achieve business growth by providing each company access to the other's patents for basic technologies," said Dr. Seungho Ahn, Executive Vice President and Head of the IP Center, Samsung Electronics. "We also hope the agreement will open new opportunities for wider collaboration 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.