In a terse statement released by Nokia, the Finnish company confirmed that Samsung has decided to extend the patent licensing agreement between both the companies for five more years. The original agreement would have expired at the end of 2013 but will be extended from January 1, 2014.
There’s no disclosure on the amount of payment Samsung will pay to Nokia but it will be decided after a binding arbitration that is expected to conclude in 2015.
This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties
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