Subject : Samsung Elec. Signs Licensing Deal with Patent Troll
Date
2010-11-29
Visit
4351
Samsung Electronics announced that it struck a long-term licensing deal with Intellectual Ventures in the United States.
Intellectual Ventures is a patent fund and licensing company founded in 2000. The company’s patent holdings consist of more than 30,000 intellectual property assets that belong to a variety of fields of technology. The so-called ‘patent troll’ purchases patents and generates profits by demanding royalties or settlement money.
The contract gives Samsung access to a broad and comprehensive patent portfolio owned by Intellectual Ventures. Samsung expects this deal to strengthen its own patent portfolio and reduce patent related risks. Furthermore, the electronics company has a hope that the hard-earned access to various patents will help develop innovative products and services for consumers.
Samsung Electronics pledged ‘patent-centered business management’ in 2005 and has been making investments in nurturing patent related talents. Based on these efforts, the company has become the largest patent holder in South Korea and the second-largest in the U.S. since 2006.
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