WILMINGTON, DE — InterDigital, Inc. (NASDAQ: IDCC), a mobile and video technology research and development company announced that it recently agreed to renew its patent license agreement with Samsung Electronics. The parties will enter into binding arbitration to determine the final terms, including the amount payable by Samsung under the new agreement.
Samsung’s previous license to InterDigital’s portfolio of cellular wireless and video technologies expired on December 31, 2022. The new license will be effective from January 1, 2023.
“While we always prefer to conclude our license agreements through amicable good faith negotiation, independent binding arbitration provides an effective mechanism for resolving licensing disputes,” commented Liren Chen, CEO and President, InterDigital. “I welcome Samsung’s willingness to enter into a new license with us and their commitment to work through the remaining issues in arbitration.”
For more information, visit www.interdigital.com.
Thanks for visiting! Looking for some Chester County pride? We got you covered! Shop our MyChesCo store and show your love for Chester County, Pennsylvania. We got shirts, hats, and more – all with a unique ChesCo flair. Plus, proceeds from each purchase helps support our mission of bringing reliable information and resources to the people of Chester County.