Nokia extends mobile patent licences to Samsung for another 5 years, price TBD

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Nokia extends mobile patent licences to Samsung for another 5 years, price TBD
Nokia sent out a presser that it has extended the secretive agreement it had with Samsung on mobile related patents for another five years. The kicker is that the price Samsung will have to pony up will not be known until 2015 rolls in.

It will ultimately be settled in a binding arbitration then, likely with a lot of variables clearer, such as Samsung's total phone turnaround, and Nokia being a separate entity at the time, that will have the rights on the vast patent portfolio after Microsoft acquires the Devices & Services division next year.

This extension and agreement to arbitrate represent a hallmark of constructive resolution of licensing disputes, and are expected to save significant transaction costs for both parties”, bragged Paul Melin, Chief Intellectual Property Officer for Nokia.

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