Google and Verizon today announced a long-term patent cross-license agreement. The duo said the deal covers “a broad range of products and technologies” but details were scarce beyond that.
Amusingly, the companies say the agreement allows each company to “reduce the risk of future patent litigation.” That leaves quite a large loophole open, we’d say.
“This cross license allows both companies to focus on delivering great products and services to consumers around the world,” Kirk Dailey, Head of Patent Transactions at Google, said in a statement. “We’re pleased to enter into this agreement with an industry leader like Verizon, and we welcome discussions with any company interested in a similar arrangement.”
Verizon General Counsel Randal Milch was even more vague: “Verizon has long championed patent reforms and industry actions that promote innovation,” he said in a statement. “We look forward to striking similar deals with other high-tech companies also concerned with the innovation tax that patent trolls often collect.”
More to follow