InterDigital and LG Electronics, Inc. sign multi-year patent license agreement
Dec 5, 2017
Agreement resolves outstanding litigation between the companies
Company Release - 12/4/2017 8:30 AM ET
WILMINGTON, Del., Dec. 04, 2017 (GLOBE NEWSWIRE) -- InterDigital, Inc. (NASDAQ:IDCC), a wireless research and development company, today announced that the company’s patent licensing subsidiaries have signed a multi-year, worldwide, non-exclusive patent license with LG Electronics, Inc. (“LG”), a global leader and technology innovator in consumer electronics, mobile communications and home appliances. The deal also commits the parties to explore cooperation for projects related to the research and development of video and sensor technology for connected and autonomous vehicles.
The agreement covers the 3G, 4G and 5G terminal unit products of LG and its affiliates and sets forth a royalty of cash payments to InterDigital as well as a process for the transfer of patents from LG to InterDigital. The parties have also agreed to terms for dismissal by InterDigital of the outstanding litigation among the parties and their affiliates.
“We are very happy to have resolved our licensing dispute with LG on mutually agreeable terms and look forward to a successful relationship with LG going forward. This agreement with LG shows how our longstanding patent licensing framework and process can lead to effective, productive discussions and eventual resolution on a worldwide basis,” said William J. Merritt, President and Chief Executive Officer of InterDigital. “The agreement also underscores the broad portfolio of technologies we’ve contributed and continue to contribute to the entire industry, and represents another important step towards our efforts to bring a significant portion of major terminal unit providers under license.”
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