Source: Nokia Press - Press Releases - November 4, 2013
Samsung extends the patent license agreement between Nokia and Samsung for five years.
Companies will enter into binding arbitration to settle the amount of additional compensation
"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", said Paul Melin, Chief Intellectual Property Officer of Nokia.
Nokia will retain its industry-leading patent portfolio following the proposed transaction to sell substantially all of its Devices & Services business to Microsoft and sees further opportunity to create value by investing in innovation, and by actively managing its patent portfolio and licensing activities.
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