Samsung Electronics and IBM announced a patent cross-license agreement, under which the companies will license their respective patent portfolios to each other.
Specific terms and conditions of the agreement were not disclosed yet.
Over the past decades, IBM and Samsung have built strong patent portfolios covering a wide range of technologies including semiconductors, telecommunications, visual and mobile communications, software and technology-based services.
The cross-licensing agreement allows the two companies to innovate and operate freely while using each other’s patented inventions to help keep pace with sophisticated technology and business demands.
The companies said the cooperation fostered by cross-licensing reinforces their ability to provide better products and services, while maintaining their competitiveness.