UPDATE -- InterDigital and Lenovo agree to enter into new license agreement – final terms to be determined in binding arbitration
InterDigital (Nasdaq: IDCC), a mobile, video and AI technology R&D company, has announced an agreement to enter into a new patent license agreement with Lenovo. The final terms of this agreement will be determined through binding arbitration. As part of this process, both companies have agreed to settle all pending litigations between them.
Eeva Hakoranta, Chief Licensing Officer at InterDigital, commented on the development, stating that binding arbitration provides a sophisticated global dispute resolution mechanism when disagreements arise during licensing negotiations. She expressed anticipation for the conclusion of the arbitration process.
InterDigital (Nasdaq: IDCC), un'azienda di R&D nel settore delle tecnologie mobili, video e AI, ha annunciato un accordo per stipulare un nuovo contratto di licenza sui brevetti con Lenovo. I termini finali di questo accordo saranno determinati tramite arbitrato vincolante. Come parte di questo processo, entrambe le aziende hanno concordato di risolvere tutte le controversie in sospeso tra di loro.
Eeva Hakoranta, Chief Licensing Officer di InterDigital, ha commentato lo sviluppo, affermando che l'arbitrato vincolante fornisce un meccanismo sofisticato per la risoluzione delle controversie globali quando sorgono disaccordi durante le negoziazioni di licenza. Ha espresso attesa per la conclusione del processo di arbitrato.
InterDigital (Nasdaq: IDCC), una empresa de I+D en tecnologías móviles, de video y de IA, ha anunciado un acuerdo para entrar en un nuevo contrato de licencia de patente con Lenovo. Los términos finales de este acuerdo se determinarán mediante arbitraje vinculante. Como parte de este proceso, ambas empresas han acordado resolver todas las litigaciones pendientes entre ellas.
Eeva Hakoranta, Directora de Licencias de InterDigital, comentó sobre el desarrollo, afirmando que el arbitraje vinculante proporciona un Mecanismo sofisticado de resolución de disputas globales cuando surgen desacuerdos durante las negociaciones de licencia. Expresó su anticipación por la conclusión del proceso de arbitraje.
인터디지털 (Nasdaq: IDCC), 모바일, 비디오 및 AI 기술 R&D 회사가 레노버와 새로운 특허 라이선스 계약을 체결한다고 발표했습니다. 이 계약의 최종 조건은 구속력 있는 중재를 통해 결정됩니다. 이 과정의 일환으로 두 회사는 서로 간의 모든 미결 소송을 해결하기로 합의했습니다.
인터디지털의 라이센스 최고 책임자인 에바 하코란타는 이번 개발에 대해 논평하며, 구속력 있는 중재는 라이센스 협상 중에 분쟁이 발생할 경우 정교한 글로벌 분쟁 해결 메커니즘을 제공한다고 밝혔습니다. 그녀는 중재 과정의 결론을 기대한다고 표현했습니다.
InterDigital (Nasdaq: IDCC), une entreprise de R&D dans les technologies mobiles, vidéo et IA, a annoncé un accord pour entrer dans un nouvel accord de licence de brevet avec Lenovo. Les termes finaux de cet accord seront déterminés par arbitrage contraignant. Dans le cadre de ce processus, les deux entreprises ont convenu de régler tous les litiges en cours entre elles.
Eeva Hakoranta, Chief Licensing Officer chez InterDigital, a commenté ce développement en déclarant que l'arbitrage contraignant fournit un mécanisme sophistiqué de résolution des différends mondiaux lorsque des désaccords surviennent lors des négociations de licence. Elle a exprimé son anticipation quant à la conclusion du processus d'arbitrage.
InterDigital (Nasdaq: IDCC), ein Unternehmen für Forschung und Entwicklung in den Bereichen mobile Technologien, Video und KI, hat eine Vereinbarung zur Eingehung eines neuen Patentlizenzvertrags mit Lenovo bekannt gegeben. Die endgültigen Bedingungen dieser Vereinbarung werden durch bindende Schiedsverfahren festgelegt. Im Rahmen dieses Prozesses haben beide Unternehmen vereinbart, alle anhängigen Rechtsstreitigkeiten zwischen ihnen zu lösen.
Eeva Hakoranta, Chief Licensing Officer von InterDigital, kommentierte die Entwicklung und erklärte, dass das bindende Schiedsverfahren einen anspruchsvollen globalen Streitbeilegungsmechanismus bietet, wenn während der Lizenzverhandlungen Meinungsverschiedenheiten auftreten. Sie äußerte ihre Vorfreude auf den Abschluss des Schiedsverfahrens.
- Agreement to enter into a new patent license agreement with Lenovo
- Settlement of all pending litigations between InterDigital and Lenovo
- Utilization of binding arbitration for dispute resolution
- Final terms of the license agreement are yet to be determined
Insights
The agreement between InterDigital and Lenovo to enter binding arbitration for a new patent license agreement is a significant development. This approach streamlines the dispute resolution process and avoids prolonged legal battles, which can be costly and time-consuming for both parties.
The settlement of all pending litigations is particularly noteworthy, as it reduces legal expenses and uncertainty for InterDigital. This move towards arbitration demonstrates a more collaborative approach to intellectual property disputes in the tech industry, potentially setting a precedent for future licensing negotiations.
For investors, this development suggests a potentially faster path to revenue recognition from Lenovo's licensing fees, although the final terms are yet to be determined. The arbitration process typically results in a fair and binding agreement, which could provide more stability to InterDigital's licensing income stream in the long term.
WILMINGTON, Del., Oct. 09, 2024 (GLOBE NEWSWIRE) -- InterDigital, Inc. (Nasdaq: IDCC), a mobile, video and AI technology research and development company, today announced that it agreed to enter into a new patent license agreement with Lenovo. The parties will enter into binding arbitration to determine the final terms of the new agreement.
As part of the agreement to arbitrate, both parties have agreed to settle all pending litigations between them.
“When disputes do arise in licensing negotiations, binding arbitration provides for a sophisticated global dispute resolution mechanism,” commented Eeva Hakoranta, Chief Licensing Officer, InterDigital. “I look forward to the conclusion of the arbitration.”
About InterDigital®
InterDigital is a global research and development company focused primarily on wireless, video, artificial intelligence (“AI”), and related technologies. We design and develop foundational technologies that enable connected, immersive experiences in a broad range of communications and entertainment products and services. We license our innovations worldwide to companies providing such products and services, including makers of wireless communications devices, consumer electronics, IoT devices, cars and other motor vehicles, and providers of cloud-based services such as video streaming. As a leader in wireless technology, our engineers have designed and developed a wide range of innovations that are used in wireless products and networks, from the earliest digital cellular systems to 5G and today’s most advanced Wi-Fi technologies. We are also a leader in video processing and video encoding/decoding technology, with a significant AI research effort that intersects with both wireless and video technologies. Founded in 1972, InterDigital is listed on Nasdaq.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
InterDigital Contact:
Richard Lloyd
Email: richard.lloyd@interdigital.com
+1 (202) 349-1716
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