It's a sue happy society we live in, that's just the way it is. Not only is that true of individuals, but it especially applies to businesses, hence why it's so important to own a robust patent portfolio. Without one, a company is at risk of litigation over patent infringement. It's with that in mind that Cisco
today announced that they've entered into a long-term patent cross-licensing agreement.
The deal covers a broad range of products and technologies. By inking the deal, both companies are able to extract value from their respective portfolios as well reduce the chances that either one ends up in court over patent infringement claims, at least with each other. That said, financial terms of the deal were not disclosed.
"Our agreement with Cisco will reduce the potential for litigation, letting us focus instead on building great new products," said Allen Lo, Google's Deputy General Counsel for Patents. "We're pleased to enter into this cross-license, and we welcome discussions with any company interested in a similar arrangement."
Cisco and Google are both members of the Coalition for Patent Fairness, an advocacy group that lobbies for patent reform. In addition, Cisco's General Counsel Mark Chandler recently reiterated a pledge not to sell patents to non-practicing entities (NPEs), which are essentially patent trolls that extort money over other companies.