SEOUL, South Korea -- Samsung Electronics Co. has signed an agreement with Google Inc. to cross-license their patents, reducing the risk of costly legal disputes over intellectual property and likely fostering greater collaborate between the two tech giants.
Seoul-based Samsung said Monday that the deal covers patents to be filed over the next 10 years as well as existing patents. Financial terms were not disclosed.
The announcement means there will be a higher possibility for Samsung to participate in Google's key projects as a hardware partner, said Chung Chang-won, an analyst at Nomura Financial Investment Co.
Tech companies often use litigation to stop rivals from using patents without permission but many of the disputes end in cross-licensing agreements outside court.