Nokia, RIM Announced New Patent License Deal
From Earlier: Nokia (NYSE: NOK) has entered into a new patent license agreement with Research In Motion (NASDAQ: RIMM). The agreement will result in settlement of all existing patent litigation between the companies and withdrawal of pending actions in the US, UK and Canada related to a recent arbitration tribunal decision.
The financial structure of the agreement includes a one-time payment and on-going payments, all from RIM to Nokia. The specific terms of the agreement are 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."
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.