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Nokia to get one time payment and on-going royalties from RIM, thanks to patent license agreement.

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Nokia has informed in a press release that RIM payments to Nokia settle all legal actions between the companies. Read the full press release below.

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.

Source

Thanks dojobi for the tip.

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Nayan

Nayan has more than 10 years of experience of covering Technology and innovations. He is a big Nokia fan and Tech disruptions aficionado. He loves to review new cool gadgets and writing about Android, iOS, Gadgets and general Technology stuff. He has been associated with other well-known Tech sites WinCentral and GadgetOx since long.

He currently sports a Lumia 950 XL and Nexus 5X. Other interests include listening to Nu-Metal Hits and Kick-Boxing.
Write to him at Email: [email protected]

http://www.nokiapoweruser.com
  • Jay M.

    So Nokia now gets royalties not only from Apple but also from RIM. That’s good. Does it get anything from Android manufacturers?

    • Very soon, HTC is going to join the list :). With samsung they already have some agreements as per I think.

  • ofentsel

    Big ups… 😉

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