Nokia today announced that it has entered into a new patent license agreement with Research In Motion, result of which both the companies will settle out all existing patent litigation as well as withdrawal any of pending actions remaining in the US, UK and Canada related to a recent arbitration tribunal decision. The financial structure made in a a way that which will includes a one-time payment and on-going payments, all from RIM to Nokia although the companies have kept specific terms confidential.
“We are very pleased to have resolved our patent licensing issues with RIM and reached this new agreement, while maintaining Nokia’s ability to protect our unique product differentiation,” said Paul Melin, chief intellectual property officer at Nokia. “This agreement demonstrates Nokia’s industry leading patent portfolio and enables us to focus on further licensing opportunities in the mobile communications market.”
(Image Credit: Flickr / NokiaOfficial)