SAN JOSE, CA and SEOUL, SOUTH KOREA--(Marketwired - Feb 5, 2014) - Cisco (NASDAQ: CSCO) and Samsung Electronics Co., Ltd. today announced they have entered into a patent cross-license agreement, effective immediately.
Both companies gain access to each other's industry-leading patent portfolios under the agreement, which 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.
This type of patent agreement reduces the risk of potential litigation and instead puts the focus on innovation for future products and services.
"Innovation is stifled all too often in today's overly-litigious environment," said Dan Lang, Cisco's Vice President of Intellectual Property. "By cross-licensing our patent portfolios, Cisco and Samsung are taking important steps to reverse the trend and advance innovation and freedom of operation."
"We look forward to working with Cisco," said Dr. Seungho Ahn, the Head of Samsung Electronics Intellectual Property Center. "We expect this agreement to result in mutual growth and, ultimately, for the benefit of both companies' customers across the world."
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About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in technology, opening new possibilities for people everywhere. Through relentless innovation and discovery, we are transforming the worlds of TVs, smartphones, tablets, PCs, cameras, home appliances, printers, LTE systems, medical devices, semiconductors and LED solutions. We employ 286,000 people across 80 countries with annual sales of US$216.7 billion. To discover more, please visit www.samsung.com
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