LG and Google have forged a 10 year global patent cross-licensing agreement, a pact that covers a wide range of products and technologies. The deal consists of existing patents and also the ones that will be indexed over the stretch of the next 10 years.
Allen Lo, deputy general counsel for patents at Google said, “We’re pleased to enter into this agreement with a leading global technology company like LG. By working together on cross-licenses like this, companies can focus on bringing great products and services to consumers around the world.” He said.
The pact is an advancement made by LG, which also makes Android smartphones. The sharing of patents could also prove to be a help for both the companies in optimizing their individual products. Presently, LG is the fourth largest smartphone maker, it also manufactures Android wearables such as smartwatches.
J.H. Lee, executive vice president and head of the LG Electronics Intellectual Property Center said, “LG values its relationship with Google, and this agreement underscores both companies’ commitment to developing new products and technologies that enhance consumers’ lives,” He said.
Moreover, earlier this year, in January, Google and Samsung ratified a 10 year global patent cross-license agreement.