Introduction Global licensing of patents has become a major aggregator in pushing growth of technology…
Microsoft Corp. and LG Electronics Inc. have announced in REDMOND, Washington. on Aug. 19, 2018 that they have entered into a patent cross-license agreement to further the development of the company’s current and future product lines.
This agreement between Microsoft and LG Electronics provides overall coverage under patent portfolio for LG’s tablets, mobile phones and other consumer devices running the Android and Chrome Platform. The content of this agreement is yet to be disclosed.
In the recent past Microsoft has been focusing on patent agreements to develop the best-practice model for protection of intellectual property as well as collaboration with numerous industrial leaders, including consumer electronics, computer hardware providers and telecommunications.
Microsoft Technology Licensing LLC was formed in 2014 to acquire, manage and license Microsoft‘s patent portfolio.
LG Electronics, Inc. is a global leader and technology innovator in consumer electronics, home appliances and mobile communications around the world. it is the largest producer of CDMA handsets, air conditioners, optical storage products and DVD players. The company provides digitally integrated products such as audio-video systems, notebook PCs, optical storage products, car infotainment, and PDAs, and is working on next-generation businesses.
“This agreement and our good relationship with Microsoft enable LGE to provide improved telecommunications solutions to our customers,” said Jeong Hwan Lee, Executive Vice President of the Intellectual Property Center at LGE. “We believe that the license arrangement with Microsoft provides appropriate recognition of the value of LGE’s computer system-related patents, which includes patents directed to computer architecture utilized in game consoles and other products. We believe in the importance of respecting the IP rights of others and that patent collaboration and protection is a best business practice the whole industry should be engaged in.”
This collaboration would go a long way in innovating and creating opportunities that enables these two organisations to further their goals of empowering every person and every organization on the planet to attain much more.