SEOUL, South Korea — Samsung Electronics Co. has signed an agreement with Google Inc. to cross-license their patents, reducing the risk of costly legal disputes over intellectual property and likely fostering greater collaborate between the two tech giants.
Seoul-based Samsung said Monday that the deal covers patents to be filed over the next 10 years as well as existing patents. Financial terms were not disclosed.
Allen Lo, a deputy general counsel at Google, said in a statement that the deal allows the two to reduce the potential for litigation and to focus on innovation.
Samsung said it also paves the way for deeper collaboration on research and development for Samsung and Google. The two already collaborate on smartphones and televisions.
The announcement means there will be a higher possibility for Samsung to participate in Google’s key projects as a hardware partner, said Chung Chang-won, an analyst at Nomura Financial Investment Co.