Nokia and RIM settle 'all legal action', shake hands on new patent license agreement
Nokia and RIM have decided to make nice (at least after the BlackBerry maker lost some patent scuffles) and are withdrawing any pending legal action in the US, UK and Canada. Instead, RIM will be making both a one-off and on-going payments to Espoo. Although the exact amount it'll be costing the Canadian company is still confidential, it's something that's also likely to affect its next earnings report.
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Nokia and RIM enter into new patent license agreement
RIM payments to Nokia settle all legal actions between the companies
Espoo, Finland - Nokia has entered into a new patent license agreement with Research In Motion. 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."
During the last two decades, Nokia has invested approximately EUR 45 billion in research and development and built the wireless industry's strongest and broadest IPR portfolio, with around 10,000 patent families. Nokia is a world leader in the development of handheld device and mobile communications technologies, which is also demonstrated by Nokia's strong patent position.
