The companies Cisco and Samsung Electronics announced the conclusion of a so-called cross-license agreement, immediately entered into force. Through this step, both companies have access to a broad portfolio of each other's patents relating to the widest range of technologies and products. The agreement provides equal access of companies to all existing patents, as well as to those licenses, applications for registration of which will be filed in the next 10 years.
Cross-license agreement significantly reduces the risk of possible litigation in the field of patent law, opening up new spaces for the development of products and services.
"Too often, innovation is literally throttled in the bud in today's overly controversial industry," said Dan Lang, vice president of intellectual property, Cisco. - And the agreement on the exchange of patents is an important step aimed at changing this trend. This is a step towards new discoveries and freedom of action. "
"We are optimistic about the future of our cooperation with Cisco," said Dr. Sego An, head of the Samsung Electronics Intellectual Property Center. "We expect this agreement to benefit our two companies and, ultimately, our customers around the world."
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