LG, Google ink 10-year patent deal

LG Electronics signed a long-term cross-license deal with Google which covers patents on a \”broad range of products and technologies\” that already exist and will be filed in the next 10 years, the two firms said in a joint statement.

\”LG values its relationship with Google, and this agreement underscores both companies\’ commitment to developing new products and technologies that enhance consumers\’ lives,\” said JH Lee, executive vice president and head of the LG\’s intellectual property center.

The agreement will provide LG Electronics legal grounds to utilize Google\’s software patents such as data processing and information security, while the U.S. firm will get access to LG\’s exclusive rights to hardware devices including flagship smartphones, LG said.