After years of intellectual-property litigation, Apple Inc (AAPL) and HTC Corp announced on Saturday a global patent settlement that ends one of Apple’s longest running IP suits. The settlement involves a 10-year-license agreement and dismisses all of the legal disputes between the two companies around the world.
“HTC is pleased to have resolved its dispute with Apple, so HTC can focus on innovation instead of litigation,” said in a press statement Peter Chou, chief executive of HTC.
Tim Cook, Apple’s chief executive, said: “We are glad to have reached a settlement with HTC. We will continue to stay laser focused on product innovation.”
The deal marks an interesting turn for Apple – considering this is the first time Cupertino has agreed on a settlement with a smartphone maker that uses Google (GOOG)’s Android operating system, an iOS competitor and a platform which the late Steve Jobs said he “was going to destroy because it’s a stolen product.”
The agreement, which follows Apple’s $1.05 billion verdict against Samsung in August, extends to current and future patents held by both parties. Financial terms were not disclosed.
Here’s part of the joint statement, released by HTC and Apple:
“TAIPEI, Taiwan and CUPERTINO, California—November 10, 2012—HTC and Apple® have reached a global settlement that includes the dismissal of all current lawsuits and a ten-year license agreement. The license extends to current and future patents held by both parties. The terms of the settlement are confidential…”
Risk Our Money Not Yours | Get 50% Off Any Account
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply