Samsung has announced to enter into a patent cross-licensing agreement with IBM. Although specific terms and conditions are not disclosed, the agreement will allow both the companies to gain access to each other’s patent portfolio that can be used by them to develop new products.
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. We also hope the agreement will open new opportunities for wider collaboration between two of the leading innovators in the technology industry.
IBM and Samsung are rated as the world’s top two inventive companies with both companies having the highest number of U.S. patents.
Last month, Samsung and IBM also joined hands to research and develop semiconductor to be used in next-gen products.