Korea’s LG (KRX:066570) and Google (NASDAQ: GOOG) have expanded their patent truce until 2023, as LG announced today that it had extended its patent sharing deal with Google — first signed in 2006 — to 2023.
“The two companies’ cooperation was strengthened for innovative product and technology development,” Lee Jeong-hwan, director of LG Electronics Patent Center, said in a press release.
“We’re pleased to enter into this agreement with a leading global technology like LG,” added Allen Lo, Google’s deputy general counsel, in a statement. “With the strategic cooperation with LG Electronics, we will be able to focus more on developing products and services for our customers.”
The agreement allows both companies access to a broad library of each other’s patents. LG will gain access to patents relating to Google’s handling of encryption and data processing on Android, as well as a bevy of other patents related to the tablet PC and Internet of Things (IoT) space. In return, Google will have access to some of LG’s touchscreen patents as well as other undisclosed hardware patents.
The agreement between the two companies has likely been extended to fend off a Apple vs. Samsung mega-suit. But it will also allow the two companies to compete in growing fields beyond the traditional smartphone space.
LG also has a patent sharing contract with Sony’s (TYO: 6758) mobile phone division.