Cisco, Google In Patent Cross-Licensing Deal
SAN JOSE, Calif. (AP) -- Google and Cisco have struck a long-term patent cross-licensing deal that will help lower the risk of expensive legal disputes over intellectual property and likely foster a greater collaboration between the two companies.
Technology companies often use litigation to stop rivals from using patents without permission, but many of the disputes often end in cross-licensing agreements outside court.
Financial terms of the Cisco-Google agreement were not disclosed.
Cisco Systems Inc. and Google said that their deal covers a broad range of products and technologies.
Allen Lo, Google Inc.'s deputy general counsel for patents, said in a statement on Tuesday that the company welcomes talks with any other company interested in a similar patent cross-license deal.
Google reached a cross-license agreement with Samsung Electronics Co. last month. Samsung said that deal covers patents to be filed over the next 10 years as well as existing patents. Financial terms were not disclosed.
Shares of Google gained $14.59 to $1,148.02 in midday trading, while Cisco's stock shed 2 cents to $21.53.