Samsung Group is a South Korean multinational conglomerate company headquartered in Samsung Town, Seoul. It is the largest South Korean chaebol. Key subsidiaries include Samsung Electronics, Samsung Heavy Industries, Samsung Engineering and Samsung C&T.
Samsung and Google sign patent agreement
Tech giants agree to cross-license product rights, potentially avoiding court battles
Samsung Electronics has signed an agreement with Google to cross-license their patents, reducing the risk of costly legal disputes over intellectual property and likely fostering greater collaboration between the two technology giants.
Seoul-based Samsung yesterday said 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 take part in Google's key projects as a hardware partner, said Chung Chang-won, an analyst at Nomura Financial Investment.
Chung picked wearable PCs, which connect objects such as glasses to wireless networks, and Google's self-driving cars as the products that Samsung could join forces on with Google.
Samsung is the world's largest maker of popular consumer electronics such as smartphones and televisions, and key tech components such as memory chips for mobile phones and PCs.
Google, the world's largest internet search company and maker of the most used mobile operating system, Android, has been moving to acquire hardware manufacturers such as Motorola Mobility and Nest Labs.
Tech companies often use litigation to stop rivals from using patents without permission but many of the disputes end in cross-licensing agreements outside court.
Samsung, maker of Android-powered Galaxy devices, is in legal fights with Apple. Chief executives of Samsung and Apple are to meet next month to try to reach a settlement.