Samsung Electronics Co., Ltd. (KRX:005930) and Cisco Systems, Inc. (NASDAQ:CSCO) has announced that they are partnering as part of a ten-year patent agreement. This is Samsung’s third patent-related agreement announced in the last 10 days.
Samsung struck similar deals with Google and Ericsson. This agreement covers existing patents and patents that will be filed in the next 10 years. The financial terms of the deal were not announced.
?Innovation is stifled all too often in today?s overly-litigious environment,? stated Cisco Vice President of Intellectual Property Dan Lang.
Large tech companies have been suing each other over patents in recent years and have fallen victim to “patent trolls.” By partnering with each other, the tech companies hopes to intimidate patent trolls from coming after them. Cisco signed a similar patent deal with Google a couple of days ago.
Just yesterday alone, Google and Intellectual Ventures ended in a mistrial, Apple was sued by a European patent-holding company, and HTC announced that they were going to redesign their phones after losing a patent lawsuit against Nokia.